MTAR Technologies Q3 net profit up over 50%

The company’s revenue from operations stood at Rs 78.1 crore as against Rs 55.2 crore in Q3FY21, growing 41.4 per cent year-on-year.

Hyderabad: MTAR Technologies, Hyderabad-based precision engineering solutions company, reported net profit of Rs 13.3 crore for the third quarter ended December 31, 2021, as against Rs 8.8 crore in Q3FY21, showing 50.5 per cent increase.

The company’s revenue from operations stood at Rs 78.1 crore as against Rs 55.2 crore in Q3FY21, growing 41.4 per cent year-on-year. EBITDA reported at Rs 22.8 crore in Q3 FY 22 as compared to Rs 17.5 crore in Q3FY21, an increase of 30.3 per cent.

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The company’s revenue from exports increased by Rs 31 crores in Q3 FY 22 in comparison with Q3 FY 21, an increase of 151.1 per cent. MTAR’s order book as on 7 February 2022 stands at Rs 599.6 crores.

Commenting on the results, Parvat Srinivas Reddy, MD, MTAR Technologies, said, “Domestic order inflows from civil nuclear power, space & defence sectors are expected to be fast-tracked over the coming quarters. Amidst a conducive macro-economic environment backed by a robust order book, we are confident of witnessing an accelerated growth over the coming quarters.”

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