Va Tech WABAG Ltd (WABAG), a leading player in the water technology space, has reported a 67 per cent increase in consolidated profit after tax at ₹50 crore for the quarter ended June 30, 2023, when compared to a PAT of ₹30 crore in the year-ago quarter.
Profit before exceptional items and tax stood at ₹64 crore against ₹47 crore. Consolidated revenue from operations was lower at ₹553 crore in June 2023 when compared to ₹632 crore in the June 2022 quarter.
For the June 2023 quarter, its standalone PAT grew 84 per cent at ₹47 crore (₹25.5 in the year-ago quarter), while revenue was higher at ₹509 crore (₹485 crore).
Its order intake in Q1 of this fiscal was ₹730 crore (₹1,093 crore in Q1 of FY23). However, its total order book size is more than ₹12,500 crore, including framework contracts, according to a statement.
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“We continue to deliver profitable growth this quarter with persistent focus on technology, EP, Industrial and International projects. Our robust order book position which is over ₹125 billion, provides confidence of our future revenues,” said Rajiv Mittal, Chairman & Managing Director, Va Tech WABAG Ltd.
He said the company continued to have a healthy mix between EPC and O&M projects which provides good cash flow visibility and better margins going forward.
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VA Tech WABAG is expanding its services to new locations and securing orders from both its strategic markets and core sectors, Mittal said in the company’s latest annual report.
The ₹2960 crore company’s operations are spread across 25 countries and four continents and has strong execution track record of implementing over 1,450 plants since 1995.
As of March 31, 2023, the company had total assets worth ₹4,089 crore.