Hyderabad: Engineering products and solutions company Pennar Industries on Wednesday announced the acquisition of Oneworks BIM Technologies. Onework is engaged in supporting clients through the technical processes of building information modeling management and data collection and it also deals in 3D digital building information modeling.
Pennar also announced that a dip in its profit after tax for the third quarter which stood at Rs 12.2 crore compared with Rs 15.2 crore in same quarter last year. The net revenue was at Rs 537.4 crore when compared with Rs 567.6 crore in third quarter last fiscal. In addition, for the nine months of financial year 2020, the company announced a 23.2 per cent jump in PAT at Rs 52.1 crore compared with Rs 42.2 crore in nine months of FY19.
During Q3, PIL received steady orders across business verticals and the order book position for pre-engineered building systems segment was Rs 455 crore; for water treatment and chemicals segment was Rs 78 crore; and for railways division stood at Rs 270 crore as on December 31.
K M Sunil, vice-president (Corporate Strategy), Pennar Industries Limited said, “Our Q3 performance got impacted due to challenging business environment, consequently, we reported 5.3 per cent decrease in revenue and 19.5 per cent decrease in net profit. Pennar’s railways BU and pre-engineered buildings BU continue to see strong order inflow through the quarter and have healthy order-book positions.”