Company reports Rs 8,286.226 million incomes from operations in Q3 FY24.
Praj Industries (Praj) announced its unaudited financial results for the quarter and nine months ended Dec 31, 2023. Income from operations stood at Rs. 8,286.226 million (Q2 FY24: Rs. 8,823.685 million; Q3 FY23: Rs ,114.647 million). Company’s Profit Before Tax stood at Rs 919.217 million for the period (Q2 FY24: Rs. 848.121 million; Q3 FY23: Rs. 858.997 million). Profit After Tax is at Rs. 704.143 million (Q2 FY24: Rs. 623.679 million; Q3 FY23: 623.113 million). Order intake during the quarter Rs 10,370 million (Q2 FY24: 10,630 million; Q3 FY23: Rs. 9,440 million)
Performance Review for 9M FY24 ‐ Consolidated:
- Income from operations stood at Rs. 24,477.138 million (9M FY23: Rs. 25,240.533 million)
- PBT is at Rs. 2,544.371 million for the period (9M FY23: Rs. 2,059.116 million)
- PAT is at Rs. 1,914.548 million (9M FY23: Rs. 1,517.031 million)
- Order intake Rs. 32,010 million (9M FY23: Rs. 30,190 million)
The consolidated order backlog as on December 31, 2023 stood at Rs 39,500 million which comprises of 75 per cent domestic orders and 25 per cent international orders.
Commenting on the Company’s performance, Shishir Joshipura, CEO & MD, Praj Industries said, “The quarter saw positive business development in new growth areas identified. The policy restriction on the use of sugar syrup as feedstock created a near‐term challenge in the market. Praj has already developed solutions for mitigating the feedstock challenge for our customers and we are confident that these solutions will help restore the opportunity next year. Our Mangalore facility is developing along the planned lines and the business pipeline to feed this facility is also growing stronger.”
