Pricol Ltd logs Q2 consolidated profits at Rs 45.07 cr

Chennai: Automotive components maker Pricol Ltd reported consolidated profits of Rs 45.07 crore for the July-September 2024 quarter, maintaining its growth momentum, a company official said on Thursday.

The Coimbatore-based company had recorded profits of Rs 33.15 crore during the same quarter of the previous financial year.

Commenting on the financial performance, Managing Director Vikram Mohan said, "Even as the overall industry experiences relatively muted growth across vehicle segments, I am pleased to share that we have sustained our growth momentum. Our strategic initiatives and focus on operational excellence are consistently delivering positive outcomes, as evidenced by our steady performance." For the six-month period ending September 30, 2024, profits surged to Rs 90.63 crore, up from Rs 65.09 crore in the same period last year.

The consolidated total income during the quarter rose to Rs 674.95 crore, compared to Rs 581.84 crore in the corresponding quarter of the previous year.

For the half-year ending September 30, 2024, total income stood at Rs 1,297.06 crore, up from Rs 1,121.90 crore in the previous year.

"With particularly strong growth in the two-wheeler segment, our diversified approach and commitment to technological advancement continue to drive our progress. We remain dedicated to our growth ambitions and to creating sustainable value for all our stakeholders," Mohan added.