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Praj Industries' net profit in March quarter at Rs 92 crore

31 May 2024 , 03:31 PM

Praj Industries’ shares surged post Q4 and FY24 financial results. For the quarter ending in March, Praj Industries reported a net profit of ₹92 Crore, up from ₹88 Crore in the same period last year. At the time of writing, the shares were trading at ₹523 which is a 4.40% hike than the previous close. The stock has gained a total of 32%, and 6% dip since the beginning of the year.

Income from operations for the quarter amounted to ₹1,019 Crore, compared to ₹1,004 Crore in Q4 FY23 and ₹829 Crore in Q3 FY24.

Full fiscal year income from operations stood at ₹3,466 Crore, slightly down from ₹3,528 Crore in FY23, with revenue distribution being 74% from bioenergy, 18% from engineering, and 8% from Hi purity.

Praj Industries posted a profit after tax (PAT) of ₹283 Crore for FY24, up from ₹240 Crore in FY23.

As of March 31, 2024, Praj Industries had a consolidated order backlog of ₹3,528 Crore, with an order intake of ₹924 Crore in the March quarter. Bioenergy sector dominates the order book with 76%, followed by engineering with 19%, and HPS segment with 5%.

Praj Industries’ bioenergy portfolio includes solutions for 1G low-carbon ethanol, 2G ultra-low carbon ethanol, renewable natural gas (RNG) or compressed biogas (CBG), Sustainable Aviation Fuel (SAF), and future biofuels like biohydrogen.

Positioned to benefit from India’s Ethanol Blending Program (EBP), Praj Industries aims to capitalize on the rising demand for biofuels, with over 50% share in 1G ethanol and the only player in 2G ethanol.

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Related Tags

  • Praj Industries
  • Q4 results
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