MTAR Reports 324% Increase In Profit To Rs 18.8 Cr In Sep Quarter

Hyderabad: MTAR Technologies Ltd, a manufacturer of mission critical precision engineered systems, said it has registered 324 per cent quarter-on-quarter increase in profits at Rs 18.8 crore in Q2 (July - September) FY25, as against Rs 4.4 crore in Q1 FY25.

Announcing its unaudited consolidated financial results for the second quarter ended September 30, 2024, the company said that its q-o-q revenue has grown by 48.3 per cent to Rs 190.2 crore, compared to Rs 128.3 crore in the previous quarter. The year-on-year earnings has increased by 14 per cent to Rs 190.2 crore in Q2 FY25, as against Rs 166.8 crore in Q2 FY24. However, the yearly profits has dropped by 8.2 per cent to Rs 18.8 crore in the quarter ended September, compared to Rs 20.5 crore, in Q2 FY24.

Parvat Srinivas Reddy, Managing Director and Promoter, MTAR Technologies, said: “We have witnessed a significant growth in revenue and EBITDA in Q2 FY 25 compared to Q1 FY 25 in line with the guidance given in last quarter. The execution in second half is going to be stronger than the first half. Sequential improvement in margins is likely to continue over the coming quarters. Order inflow is expected to ramp up in the second half across all the sectors.”

MTAR has seven manufacturing units including an export-oriented unit each based in Hyderabad.