Action Construction Equipment Q2 PAT grows 28% to Rs 95 crore

Action Construction Equipment Ltd has reported a 28 per cent rise in consolidated profit after tax (PAT) at Rs 94.82 crore for September quarter, on account of higher income. It had posted a PAT of Rs 73.94 crore for the quarter ended September 2023, the company said in an exchange filing on Friday.

Income increased to Rs 790.90 crore from Rs 690.21 crore in the year-ago quarter. For the April-September period, the company reported a PAT of Rs 179 crore, higher from Rs 141.51 crore in the corresponding six-month period of FY24.

"In the quarter gone by, we have reinforced our liquidity position, improved working capital efficiency and further fortified our balance sheet which gives us the flexibility to seize growth opportunities in the future," Executive Director Sorab Agarwal said in a statement.

Revenue from cranes, material handling & construction equipment segment during the quarter was Rs 693.07 crore, while from the agri equipment division it earned a revenue of Rs 61.27 crore.

The company recorded sales of 2,863 units in the quarter, which is up by 9 per cent year-on-year (YoY).

Action Construction Equipment Ltd is among India's leading material handling and construction equipment manufacturing companies.