Pennar reports 34% jump in Q3 profit

By Author  |  Business Bureau  |  Published: 12th Feb 2019  10:34 pm

Hyderabad: Pennar Industries Limited (PIL) reported a net revenue of Rs 397.1 crore up by 32 per cent year-on-year (y-o-y) for the third quarter of FY 2019 while its profit went up to Rs 11.5 crore, up by 34 per cent y-o-y. For the nine months ending December 2018, the company registered a net revenue of Rs 1123.8 crore, up by 27 per cent y-o-y, while its profit went up 49 per cent to Rs 33.9 crore.

During Q3, PIL and its subsidiaries received orders aggregating to Rs 498 crore. These new orders were across business verticals such as building products, tubes, solar, railways, industrial components and pre-engineered buildings.

Commenting on Q3 financial performance, KM Sunil, VP- Corporate Strategy, PIL said, the company has reported a strong Q3 standalone numbers with revenue and net profit posting 32 per cent and 34 per cent y-o-y growth respectively.

On a consolidated basis too, revenue grew by 38 per cent y-o-y. Q3 also saw strong order inflow across verticals barring solar. Pennar Enviro received orders worth Rs 62 crore during quarter.