Latest News | VA Tech WABAG Posts Consolidated Q4 Profit at Rs 78.1 Cr

Chennai, May 21 (PTI) Water treatment player VA Tech WABAG Ltd has recorded a consolidated profit of Rs 78.1 crore for the January-March 2023 quarter.

The company registered a consolidated net loss of Rs 111.9 crore in the corresponding quarter of last year.

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For the financial year ending March 31, 2024, the consolidated profit stood at Rs 250.4 crore, as against Rs 11 crore registered a year ago.

The consolidated total income during the quarter under review rose to Rs 942.4 crore, from Rs 934.6 crore registered in the same period of last year. For the year ending March 31, 2024, the consolidated total income surged to Rs 2,899.8 crore, as against Rs 3,014.1 crore registered in the same period of last year.

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In a statement, the company said, the comparative numbers of FY'23 exclude divested European subsidiaries and exceptional items for 'like-to-like' comparison.

On the financial performance, VA Tech WABAG Ltd Chairman and Managing Director Rajiv Mittal said, "We continue to deliver profitable growth this year with a persistent focus on technology, industrial and international projects. "

"Group continues its strategic approach to remain 'asset light'. Last year, we strategically divested two of our European subsidiaries and we have also successfully inducted majority equity partners in 2 out of 3 HAM SPVs. Our robust order book position which is over Rs 114 billion provides confidence in our future revenues," he said.

"This is the fourth consecutive year we have concluded Net Cash positive and I am confident that we will continue to remain on this growth path, as we step into the next financial year," he said.

The Net Cash Position as of March 31, 2024, was at Rs 235.6 cr, the statement 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)