Q4 Results: Pritika Auto reports net profit of Rs 1.93 crore

Pritika Auto Industries, which is engaged in the manufacturing of tractor and automobile components, has reported a net profit of Rs 1.93 crore in the quarter ended March 2024. It was Rs 1.89 crore during the same quarter a year ago. However, the revenue Sales declined 6.33% to Rs 82.58 crore in the quarter ended March 2024 as against Rs 88.16 crore during the previous quarter ended March 2023.

Commenting on the results, Harpreet Singh Nibber, Chairman& Managing Director, Pritika Auto Industries Limited said, "We have made significant progress in enhancing our operational efficiency, leading to a yearover-year gross profit increase of 1,081basis points due to the synergy with PIL, through which we offer machined casted products and it has further contributed to a year-over-year increase of 34.41 per cent in EBITDA per tonne."

Financial Results Highlights for the quarter ended 31st March 2024:

- Production volumes for Q4 FY24was at 8,813 tons, as against 9,929 tons in Q4 FY23

- Net Revenue for the quarter was Rs. 82.58 crore in Q4 FY24, as against Rs. 88.16 crore in Q4 FY23.

- EBITDAwas at Rs. 11.40 crore in Q4 FY24 as against Rs.8.91 crore in Q4 FY23.EBITDA per ton also improved by 44.06%YoY

- Profit after Tax was at Rs 2.59 crore in Q4 FY24

- Basic EPS stood at Rs 0.18 in Q4 FY24

Financial Results Highlights for the Full Year ended 31st March 2024:

- Production volumes for FY24 was at 36,772 tons, as against 39,116 tons in FY23.

- Net Revenue for the year ended was Rs. 342.09 crore in FY24, as against Rs. 362.03 crore in FY23.

- EBITDA was at Rs.52.48 crore in FY24 as against Rs. 41.53 crore in FY23.

- Profit after Tax was at Rs. 16.85 crore in FY24, while Basic EPS stood at Rs. 1.18 in FY24.