Pricol reports 39.25% jump in net profit to Rs 41.5 crore in Q4FY24

Coimbatore-headquartered Pricol Ltd reported its net profit increase by 39.25% year-on-year (YoY) during Q4FY24 to Rs 41.5 crore. The operating revenues on the other hand, jumped by 11.09% YoY to Rs 566.2 crore during the same comparable period. 

On a financial year basis, the company's net profit increased by 12.77% to Rs 140.6 crore in FY24 in comparison to FY23, the company informed in a regulatory filing.

Pricol, which claims to be among India's leading dashboard manufacturers, has strong manufacturing in segments such as driver information, connected vehicle solutions, and actuation, control, and fluid management systems. The company, which counts many of the leading OEMs across the segments, boasts eight manufacturing facilities across Coimbatore, Manesar, Pantnagar, Pune, Satara, and Sri City in India, along with one  manufacturing plant in Jakarta, Indonesia, and three  international offices in Tokyo, Singapore, and Dubai.

Vikram Mohan, Managing Director, Pricol  said, “Our results for FY24 are in line with our strategic objectives and commitment. This success highlights the persistent efforts and strong dedication of our team, who diligently pursue our objectives. As we move into the next financial year, we are encouraged to continue this upward trend in our business".

"The evolving mobility market in India presents both obstacles and prospects. With a rising demand for the cutting-edge solutions we offer, we are strategically positioned to address these changing needs of the market. Our priority remains fostering growth and providing value to our stakeholders in this rapidly changing market landscape.”