Coimbatore-based components manufacturer Pricol has reported a revenue of Rs 1,322 crore for the fiscal ended March 31, 2018, an increase of 4 percent, compared to Rs 1,270 crore for the same period last year.
Profit After Tax (PAT) for the year grew by 14.6 percent to Rs 53 crore as compared to Rs 46 crore for the same period last year. In Q4 FY2018, the company claimed to see the revenues improve by 40 percent YoY, while PAT grew from Rs 93 lakh to Rs 32 crore, up by 3,340 percent.
Vikram Mohan, managing director, Pricol said “Pricol witnessed a good 4th quarter with total income growing by 40 percent against the corresponding quarter last year. Annual standalone total income grew by 4 percent, despite the drop in revenues from speed limiting devices, an effect of the implementation of BS IV norms."
Pricol targets Rs 3,000 crore revenue by 2020
"FY2017-2018 has been quite eventful for Pricol with numerous partnerships and an acquisition that has been successfully executed. The technology partnerships for oxygen sensors, electrical water pumps and fuel pump modules and the acquisition of our wiping systems business have opened multiple avenues of growth. By expanding our product portfolio, manufacturing presence and technological capabilities, we are certainly poised for growth,” concluded Mohan.
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