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PPAP Automotive profit declines 54.99% yoy in Q2

The sales, however, increased by 27.52% to Rs105.94cr in the quarter ended September 2021.

November 15, 2021 4:06 IST | India Infoline News Service
Stock Exchange
PPAP Automotive Ltd. has declared its un-audited Financial Results for the Quarter and half year ended 30th September 2021

The net profit was down 54.99% to Rs1.67cr in the quarter ended September 2021 as against Rs3.71cr during the previous quarter ended September 2020.

The sales, however, increased by 27.52% to Rs105.94cr in the quarter ended September 2021 as against Rs83.08cr during the previous quarter ended September 2020.

On Sensex, the stock ends lower at Rs244.50 on BSE.

Commenting on the results and performance for Q2 & H1FY22, Mr. Ajay Kumar Jain, Chairman & MD of PPAP Automotive Ltd said:

“The demand for vehicles has bounced back. However, due to semi-conductor shortage, the production of vehicles continues to be hampered. Rising commodity prices and disrupted global supply chain continue to be a big challenge for the entire industry. Despite of these disruptions, the company continues to grow with double digit EBITDA margins. The capacity utilization has improved from 54% in Q2FY21 to 67% in Q2FY22.”

“The company continues its endeavour to increase its customer base as well as content per vehicle. The new businesses and the new subsidiary companies have started showing good traction and will continue to be a growth driver for the group. Going forward, as the industry disruptions reduce, we will continue to improve our stellar performance,” Ajay Kumar Jain added.

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