Pratibha Industries posts strong Q2 results

Sales up by 30%; Net Profit rises 20%

For the quarter ended September 30, 2011, Sales Turnover of Pratibha Industries Ltd. rose to Rs. 3385 million (Rs. 338 crore), an increase of 30% over the same period of previous financial year. Net Profit After Tax rose to Rs. 163.3 million (Rs. 16.33 crore) registering a growth of 20 %. The Company’s current order backlog is Rs 52690 million (Rs.5269 crore).

Pratibha Industries Ltd, the flagship company of the Pratibha Group, today announced the second quarter results for the period ended September 30, 2011. The Company’s Sales Turnover increased by a healthy 30 % to Rs. 3385 million (Rs. 338 crore), as compared to Rs. 2596 million (Rs. 260 crore) in the corresponding period of previous year. For the half year ended September 30, 2011, the Sales Turnover rose by 19% as compared to the corresponding period in the previous year.

For the quarter ended September 30, 2011, the Profit Before Tax rose by 9% to Rs. 213 million ( Rs. 21.3 crore). For first half of the fiscal, the Profit before tax was Rs. 468 million ( 47 crore), registering a rise of 10% over the corresponding period in the previous fiscal.

The Net Profit after Tax rose by 20 % to Rs. 163 million (Rs 16.3 crore) as compared to Rs.136 million (Rs. 13.6 crore) in the corresponding period of previous year. For the first half of the fiscal, the net profit was 350 million ( Rs. 35 crore), registering a rise of 17%.

The Operating margin (EBITA) for the current quarter stood at Rs. 461 million (Rs.46 crore), a rise of 19% as compared to the corresponding quarter in the previous year.

Commenting on the results, Mr. Ajit Kulkarni, Managing Director, Pratibha Industries Ltd said, “We are continuing to focus on the domestic market while exploring opportunities overseas. Despite the highly competitive market, we were successful in closing some key projects which has strengthened our orders in hand. We are optimistic about the future and see good opportunities in the infrastructure and water business as these sectors continue to fuel the economy. With rapid urbanization across the country, we also expect to participate in the expanding building segment.”