Latest News | VA Tech WABAG Reports Q2 Standalone Net at Rs 8.02 Cr

Chennai, Nov 11 (PTI): Water treatment player VA Tech WABAG Ltd has clocked standalone profits for the quarter ending September 30, 2020 at Rs 8.02 crore

For the quarter ending September 30, 2019, VA Tech WABAG had recorded standalone profits at Rs 17.95 crore, the city based company said in a BSE filing on Wednesday.

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For the half year ending September 30, 2020, the company reported standalone profits at Rs 12.10 crore against Rs 37.85 crore registered a year ago.

In a statement, VA Tech WABAG said the order book for the half year ending September 30, 2020 stood at Rs 10,596 crore, which includes framework contracts.

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Commenting on financial performance, company Managing Director Rajiv Mittal said, "our performance is satisfying considering that we are witnessing progressive revival of economic activities across overseas."

"Our Indian projects, which were slowed down due to the pandemic restrictions in Q1 and part of Q2, have also commenced ramping up and we expect to reach normal operating levels in the second half of this fiscal", he said.

Total income on a standalone basis stood at Rs 354.49 crore for the quarter under review as against Rs 446.86 crore registered in the same period last fiscal.

For the half year ending September 30, 2020. standalone total income slipped to Rs 637.20 crore from Rs 771.61 crore registered a year ago, 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)