Praj Industries Q1 net profit down 19%

Company's revenues were Rs 221.27 crore for the quarter up by 28% from Rs 173.06 crore in the last quarter of the same year

Pune-based Praj Industries, a technology and engineering solutions provider for the production of bio-fuels and biochemicals has posted profit of Rs 2.49 down 19 per cent as compared to Rs 3.09 crore last year for the quarter ended June 30, 2014.  

The company’s revenues were Rs 221.27 crore for the quarter up by 28 per cent from Rs 173.06 crore in the last quarter of the same year.

"Praj has displayed a 28 per cent increase in turnover. The operating margin is higher when compared to corresponding quarter. We see some green-shoots in the Indian economy. Any change in the investment cycle will bode well for the business," said Gajanan Nabar, chiarman and managing director, Praj Industries.

Recently, the company has commissioned the bioethanol plant in Sierra Leone in Africa. Also, the water and wastewater SBU commissioned two plants in India. One is the effluent treatment plant for epoxy production unit and another ZLD for recovery of glauber salt for the largest textile unit in India.