MTAR Tech PAT up 25% in Q1
MTAR Technologies Ltd, a leading manufacturer engaged in manufacturing and development of mission critical precision engineered systems catering to clean energy, civil nuclear power, fuel cells, hydel & others, space, and defence sectors, has recorded 25.4 per cent growth in profit after tax (PAT) at Rs 20.3 crore in April-June quarter (Q1) of FY 2023-24 against Rs 16.2 crore in same quarter a year ago.
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Hyderabad MTAR Technologies Ltd, a leading manufacturer engaged in manufacturing and development of mission critical precision engineered systems catering to clean energy, civil nuclear power, fuel cells, hydel & others, space, and defence sectors, has recorded 25.4 per cent growth in profit after tax (PAT) at Rs 20.3 crore in April-June quarter (Q1) of FY 2023-24 against Rs 16.2 crore in same quarter a year ago. The company’s revenue from operations increased 67.6 per cent at Rs. 152.6 crore in Q1 FY’24 as against Rs 91 crore in corresponding quarter previous fiscal. Parvat Srinivas Reddy, MD & Promoter, MTAR Technologies, said: “The company shall be ramping up the revenues over the coming quarters. We are expecting accelerated inflow of orders in H2 FY’24. Our closing order book by end of this fiscal is estimated to be around Rs 1,500 crore.”
