NEWS

Pricol standalone income from operation grows by 38.5% in Q1 2016-17

By TNI
Date: Aug 10 , 2016

New Delhi: Pricol limited a leading manufacturer of automotive components for the global automotive market, announced its first quarter result for FY 2016 – 17. Net profits after taxes stood at Rs 22.18 crore as against Rs 1.64 crore in the same period last year.

For the first quarter standalone income from operation registered a growth of 38.5% quarter-on- quarter. Total income in terms of absolute numbers stood at Rs. 318.68 crore as against Rs. 230.10 crore in the same period of FY 15-16.

Before Interest, Taxes, Depreciation and Amortization (EBITDA) Earning has grown by almost three fold in the first quarter of FY 16-17; Pricol registered 12.2% earnings growth as against 5.6% for the same period in FY 15-16.

Vikram Mohan, Managing Director, Pricol said, "The Q1 results were better than expected, primarily due to sustained efforts to reduce costs, gain in market share and increased productivity. With the boost in last quarter numbers from FY 2015-16, we are confident in continuing this trend in the days ahead."

Pricol a leading manufacturer of automotive components for the global automotive market, leading the growth by innovation, cutting edge technology and superior products across two, three and four wheelers, commercial vehicles, tractors, and construction & industrial tooling segments across the global market.

The company's performance is driven by over 38 patents, 8 manufacturing units and 7 business offices across the globe including India, Indonesia, Brazil, USA, Germany, Singapore and Japan.

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