Pricol Ltd reports consolidated Q3 PAT at Rs 26.76 cr

Chennai: Pricol Ltd, an automobile component manufacturer, has reported consolidated profit for the quarter ended December 31, 2022 at Rs 26.76 crore, the company said on Thursday.

The Tamil Nadu based company had registered consolidated PAT at Rs 17.34 crore during corresponding quarter last fiscal.

For the nine month period ended December 31, 2022 the consolidated PAT grew to Rs 94.88 crore from Rs 37.95 crore registered in the same period last financial year.

Profit after Tax for the nine month period ended December 31, 2022 excludes exceptional items of Rs 9.75 crore, the company said.

Consolidated total income for the three month period ending December 31, 2022 grew to Rs 474.87 crore from Rs 408.29 crore registered in same period last year.

For the nine month period ended December 31, 2022 consolidated total income surged to Rs 1,437.77 crore from Rs 1,137.71 crore registered in the same period last year.

Commenting on the financial performance, the company said, "in Q3 FY2023, we had a significant impact on our topline because of acute IC shortage due to internal consolidation activity of one of our key IC suppliers, due to which we were unable to fulfil the customer demands. This in turn affected our bottom-line because of loss in sales and other costs such as premium freights." 

"With our collective efforts, we overcame these challenges and reported a healthy set of numbers in Q3 and we believe the worst is behind us in supply chain constraints and we will continue to deliver a consistent performance in the upcoming quarters with health orderbook," the company said in a statement.