Hyderabad-based Palred Technologies reports Rs 1.5 cr profit
Hyderabad: Hyderabad-based technology solutions player in consumer electronics, e-commerce and IT, Palred Technologies has announced a profit of Rs 1.5 crore for the quarter ending September.
The company had reported a loss of Rs 0.96 crore in the corresponding period last year. For the same quarter, the company’s revenue from operations stood at Rs 39.31 crore while it reported Rs 10.91 crore in the same period last year.
The company’s audio accessories brand – pTron generated revenue worth Rs 34.55 crore in the quarter led by high volume demand for its audio accessories range. The brand registered over 7,87,783 units of sales during second quarter of FY20. It also registered record number of sales in October at 4,05,416 units, the highest sales volume ever in a single month.
pTron witnessed a robust demand in the market especially as people work/study from home and the festive fervour has also added to it. The record sales volume is also due to the elaborate range of devices at affordable prices. With prices varying from Rs 699 to Rs 1,499 pTron enjoys an edge over its competitors in this aspect.
Harish Naidu, CFO, Palred Technologies Limited said, “The company has registered strong growth with its highest ever quarterly revenues this quarter that was led our brand pTron. The company is on a strong growth trajectory with only the first two quarters for recording consolidated revenues of Rs 54 crore against the annual revenues of Rs 45 crore for the whole FY20.”
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