Pricol reports Q4 consolidated net profit at Rs 41.50 cr

Chennai: Pricol Ltd has reported a consolidated profit after tax for the January-March 2024 quarter at Rs 41.50 crore, the company said on Thursday.

The Coimbatore-based auto component manufacturer had registered a net profit of Rs 29.80 crore, during the corresponding period of last year. For the financial year ending March 31, 2024 the net profit stood at Rs 140.61 crore, as compared to Rs 124.68 crore registered a year ago.

The consolidated total income during the quarter under review grew to Rs 588.51 crore, from Rs 525.37 crore registered in the same period last year. For the financial year ending March 31, 2024 the consolidated total income went up to Rs 2,284.94 crore, from Rs 1,963.14 crore registered last fiscal.

Commenting on the financial performance, Pricol Ltd Managing Director Vikram Mohan 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 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," he added.