Board of Directors of the Company has recommended final dividend of ₹ 1.20 per share on a face value of ₹ 5 per share, amounting to total dividend of ₹ 2.70 per share for the year
Hyderabad, May 30, 2023: Pitti Engineering Limited has reported fourth quarter net profit growth of 25.47% year on year basis to Rs. 24.83 crore.
For the quarter revenue from operations was at ₹ 247.51 crore, as compared to ₹271.39 crore in Q4 FY22, down by 8.80%. Net profit was at ₹ 24.83 crore, as compared to ₹ 19.79 crore in FY22, registered a growth of 25.47%.
For the full year FY23 Revenue from operations was at ₹ 1,100.17 crore, as compared to ₹ 953.82 crore in FY22, grown by 15.34%. Net profit was at ₹58.83 crore, as compared to ₹ 51.89 crore in FY22, registered a growth of 13.35%.
Sales volumes on YoY basis increased to 36,297 MT as compared to 31,945 MT in FY22, grown by 13.62%. Capacity utilisation during the quarter was at 74.14%, while EBIDTA per MT stands at ₹ 42,290.
Commenting on the Results, Mr. Akshay S Pitti, Vice Chairman & Managing Director said, “Pitti Engineering Limited has achieved exceptional milestones, recording its highest-ever annual revenue of ₹1,111.78 Crores with a YoY growth of 15.22%. Our annual EBITDA reached a record high of ₹ 151.39 Crores, reflecting a YoY growth of 14.14%, while the net profit surged to ₹ 58.83 Crore with a YoY growth of 13.35%. Progressing towards our goal of achieving a sheet metal capacity of 72,000 MT, we showcase our commitment to enhancing manufacturing capabilities.
With a robust demand outlook, diverse product offerings and expanding capacity, we are well-poised to seize future opportunities.”
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