Latest News | Pricol Ltd Clocks Standalone Q4 PAT at Rs 16.78 Cr
Get latest articles and stories on Latest News at LatestLY. Automotive technology company Pricol Ltd has clocked standalone profit after tax for the quarter ending March 31, 2022 at Rs 16.78 crore, the company said on Tuesday.
Chennai, May 24 (PTI) Automotive technology company Pricol Ltd has clocked standalone profit after tax for the quarter ending March 31, 2022 at Rs 16.78 crore, the company said on Tuesday.
The Tamil Nadu based company had registered standalone profit after tax at Rs 2.91 crore in the corresponding quarter previous year, a company statement said.
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For the financial year ending March 31, 2022 standalone PAT surged to Rs 45.62 crore from Rs 14.60 crore registered year ago.
Total income during the quarter under review, on standalone basis slipped to Rs 394.23 crore, from Rs 438.19 crore registered corresponding quarter previous year.
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For the year ending March 31, 2022 standalone total income stood at Rs 1,483.37 crore as against Rs 1,397.81 crore registered year ago.
"We saw the Indian automotive sector moving into calendar year 2022 with subdued optimism and hoping for some semblance of normalcy to return in the supply chain" Pricol Ltd managing director Vikram Mohan said.
"Despite the acute chip shortage and steep price increase of raw materials, which had a major impact on our sales and profitability, we managed to clock a decent performance better than our expectations", he said.
The outlook for the industry remains bleak with continued chip shortage and supply chain disruptions, he said.
"Our focus remains sharp towards meeting the customer schedules on time as much as possible while keeping a check on the cost control, thereby hoping to perform better than the market growth", he said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)