Pitti Laminations Q3FY12 Net Profit jumps 134%

Revenue up 47%

Editor’s synopsis

Q3FY12 Performance:

• Net Profit at Rs 6.11 crores; jumps 134.10%
• Revenue at Rs 103.23 crores; rose 47.64% from Rs.69.92 crores.
• EBIDTA at Rs 16.84 crores; up 84.85%
• EPS at Rs 5.70 as against Rs 2.76 in Q3FY11

9MFY12 Performance:

• Net Profit at Rs 16.11 crores; jumps 187.68%
• Revenue at Rs 308.67 crores; rose 77.23 % from Rs.174.16 crores.
• EBIDTA at Rs 44.52 crores; up 92.12%
• EPS at Rs 15.02 as against Rs 5.93 in Q3FY11

Pitti Laminations Ltd, one of the largest manufacturers of electrical stampings and laminations in India announced 134.10% jump in net profit for third quarter ended December 31st, 2011 to Rs 6.11 crores as against Rs 2.61 crores in the corresponding quarter ending 31December 31st 2010

Revenue for the quarter rose 47.64% to Rs103.23 crores from Rs 69.92 crores. The growth in revenue is majorly due to export sales. The EPS of the company stood at Rs 5.70 as against Rs 2.76 in Q3FY11.

Revenue for the nine-month period ending December 31, 2011 jumped 77.23% to Rs 308.67 crores from Rs 174.16 crores. The Net Profit of the Company during the period rose 187.68% to Rs 16.11 crores as against Rs 5.60 crores in the nine-month period December 31st, 2010. EPS stood at Rs 15.02 as against Rs 5.93 in the nine-month period of 2010.

Commenting on the Company's performance Mr Sharad B Pitti, Chairman and Managing Director, Pitti Laminations Ltd said, “The quarter had been good on account of export sales despite a challenging business environment. The total business witnessed growth on account of export sales”