Mahindra EPC Irrigation hit an upper circuit of 20% at Rs 122.10 after the company's consolidated net profit climbed 280.6% to Rs 6.35 crore in Q3 FY25 as against Rs 1.67 crore posted in Q3 FY24.
Revenue from operations rose by 1.4% year on year to Rs 81.45 crore in the quarter ended 31 December 2024.Profit before tax stood at Rs 8.53 crore in Q3 FY25, up 272.5% as against Rs 2.29 crore recorded in Q3 FY24.
Total expenses decreased 6.21% to Rs 73.07 crore in Q3 FY25 as compared to Rs 77.91 crore reported in Q3 FY24. Cost of materials consumed stood at Rs 38.84 crore (down 2.97% YoY), employee benefit expenses was at Rs 7.76 crore (down 2.14% YoY) during the period under review.
On nine-month basis, the company's net profit climbed 433.3% to Rs 0.96 crore on 7.6% decrease in revenue to Rs 176.78 crore in 9M FY25 over 9M FY24.
Meanwhile, the company's board has approved the appointment of Giriraj Mohta as chief financial officer (CFO)-designate and senior management personnel, effective from 1 March 2025 until 30 April 2025 (both days inclusive). He will assume the role of chief financial officer, key managerial personnel, and senior management personnel of the company starting 1 May 2025.
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Additionally, the company's board has approved the retirement of Sunetra Ganesan as chief financial officer, effective from the close of business on 30 April 2025, upon reaching the age of superannuation, in accordance with the companys policy.
Mahindra EPC Irrigation manufactures micro-irrigation systems (MIS) consisting of drips and sprinklers at its facilities in Nashik, Vadodara and Coimbatore.
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