Pricol Ltd reports consolidated Sept quarter net profit of Rs 47.52 crore

Pricol Ltd has recorded a consolidated profit for the July-September 2022 quarter at Rs 47.52 crore, the company said on Friday.

The city-based automotive technology company had registered consolidated profit at Rs 14.66 crore during corresponding quarter of previous year.

For the half year ending September 30, 2022 the consolidated profit grew to Rs 68.12 crore from Rs 20.60 crore registered in same period of previous year, the company said.

The consolidated total income during the quarter under review went up to Rs 516.46 crore from Rs 409.49 crore registered in same period of last year.

For the six-month period ending September 30, 2022 the consolidated total income grew to Rs 962.90 crore as against Rs 729.41 crore registered in same period of last year.

 

"Whilst the demand from the industry remains stable, the supply chain disruptions and chip shortages still continue to put a stress on our top-line and bottom-line. With our focused efforts to meet the customer demand despite such external conditions, we managed to report highest ever quarterly revenue...," company Managing Director Vikram Mohan said on the company's financial performance in a statement.

"With sharp increase in forex and electronic components' price continuing as a risk to erode the profitability, we are taking all possible measures to keep costs under control, hoping to perform better than the market...," he said.