MTAR Tech clocks PAT of Rs16.2 crore in Q1FY23 with 86.2% yoy increase

10 Aug 2022 , 09:17 AM

MTAR Technologies Ltd (“MTAR”) has announced its financial results for the first quarter ended June 30, 2022.

YOY Q1 FY 23 vs. Q1 FY 22

• Revenue from Operations stood at Rs91.0 crore in Q1 FY 23 as against Rs54 crore in Q1 FY 22, 68.4% increase yoy
• EBITDA reported at Rs25 crore in Q1 FY 23 as compared to Rs14.5 crore in Q1 FY 22, 72.5% increase yoy
• Profit Before Tax stands at Rs22.2 crore in Q1 FY 23 as against Rs12.6 crore in Q1 FY 22, 77.0 % increase yoy
• Profit After Tax was at Rs16.2 crore in Q1 FY 23 as against Rs8.7 crore in Q1 FY 22, 86.2 % increase yoy
• Diluted EPS stands at Rs5.3 for Q1 FY 23 as against Rs2.8 for Q1 FY 22.
• Operating cashflows was at Rs16.2 crore in Q1 FY 23 as against Rs(6.9) crore in Q1 FY 22

Commenting on the results, Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “ The company has received substantial orders in the Clean Energy segment in first quarter of FY23. We are expecting accelerated order inflow over the next three quarters and working towards building a strong order book, enhancing our customer base and augument our capabilities to address the growing market in Clean Energy, Civil Nuclear power, Space and Defence sectors”

At around 9:17 AM, MTAR Technologies was trading at Rs1404.05 per share lower by 0.38% on the BSE.