Endurance Tech’s Q1 profit improves on new order wins

The  consolidated profit after tax (PAT) came in at Rs 96.6 crore and total income at Rs 7706.4 crore in Q1FY2022.

By Shahkar Abidi calendar 11 Aug 2021 Views icon4931 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Tier 1 component major, Endurance Technologies posted a consolidated total income to Rs 7706.4 crore in Q1FY2022 (Q1FY2021 total income: Rs 614 crore) on the back of new order wins and improving sentiment across European markets. The  consolidated profit after tax (PAT) came in at Rs 96.6 crore (Q1FY2021: Rs 25 crore).  

According to Anurang Jain, MD, Endurance Technologies, the gradual easing of restrictions and likely reopening of educational institutions can help revival in demand. Speaking on the order pipeline, Jain added that "We continue to win orders for supply of products to European four-wheeler OEMs, including sizeable orders for EV and hybrid applications. In India, we continue efforts to supply all four of our products to all major two- and three-wheeler OEMs." 

Speaking specifically about the sentiment, Jain said new registration in European and UK markets have shown improvements during Q1FY2022 year-on-year but "production of cars in markets such as Germany showed a decline. Our European operations recorded a marginal increase in total," continued Jain. 

CNH Industrial announces winner of its Industrial Design Program at UPES Dehradun

auther Autocar Pro News Desk calendar27 Sep 2023

The 10-week program provided UPES students with practical knowledge and hands-on experience in the design and developmen...

Honda launches SP125 Sports Edition, seventh bike launch in two months

auther Autocar Pro News Desk calendar27 Sep 2023

HMSI targets 125cc premium commuter motorcycle segment with its latest set of wheels.

Tamil Nadu accounts for 40% of India’s million EV sales between January and September

auther Autocar Pro News Desk calendar26 Sep 2023

Of the 10,44,600 electric vehicles sold in the first nine months of CY2023, OEMs with manufacturing units in Tamil Nadu ...