PTC Industries said that it has taken up a developmental contract for critical components for Defence Research and Development Organisation (DRDO) - Gas Turbine Research Establishment (GTRE)'s Combat Aircraft Engine development program.
PTC's expertise is being developed in manufacturing critical components for aero engines /aircraft made of titanium alloys using innovative investment casting - hot isostatic pressing (IC - HIP) technology along with GTRE - DRDO, this will enhance the overall ecosystem of the country's indigenous defence capabilities.Sachin Agarwal, chairman, and managing director, PTC Industries said, Based on this contract and the developmental initiatives taken up with GTRE-DRDO, PTC's capabilities will be matched with a strong foundation for the development of more innovative, complex and reliable components for next-generation aero-engines. PTC has undertaken focused investments in technology for the manufacture of advanced aero-engine components and is adding world-class facilities for the manufacture of Titanium production with a large capacity.
PTC Industries Limited is a manufacturer of high-quality engineering components for various critical and super-critical applications. PTC manufactures products for a wide spectrum of industrial applications including that for Oil and Gas and Liquified Natural Gas (LNG), Offshore and Marine, Valves and Flow Control, Power Plants and turbines, Pulp and Paper Machinery, and Mining and other Engineering and Capital Goods Industries.
The company reported consolidated net profit of Rs 7.64 crore in Q2 FY23, steeply higher than Rs 1.80 crore in Q2 FY22. Net sales surged 41.1% year on year to Rs 54.04 crore in Q2 FY23.
Shares of PTC Industries rose 0.41% at Rs 2908.80 on the BSE.
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