Pennar Industries Reports 48% Y-O-Y Increase in Q2 FY2019 Standalone PAT at INR 11.2 Crore

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Standalone Revenue for Q2 FY2019 at INR 384.6 crore, up by 34% y-o-y
Standalone Financial Highlights
Q2 FY 2019 Net Revenue at INR 384.6 crore; up by 34% y-o-y Q2 FY 2019 PAT at INR 11.2 crore; up by 48% y-o-y H1 FY 2019 Net Revenue at INR 726.7 crore; up by 20% y-oy H1 FY 2019 PAT at INR 22.4 crore; up by 59% Consolidated Financial Highlights - Q2 FY2019
Net revenue at INR 527.9 crore; up 24% y-o-y EBITDA at INR 42.0 crore; EBITDA margin at 8% PAT after minority Interest at INR 12.2 crore; up 19% y-o-y Consolidated Financial Highlights - H1 FY2019

Revenue at INR 994.4 crore; up 12% y-o-y EBITDA at INR 87.6 crore; EBITDA margin at 9% PAT after minority interest at INR 25.4 crore; up 21% y-o-y Business Highlights

Among the various verticals, revenue from railways at INR 90 crore contributed 24% to the standalone PIL revenue during the quarter. Solar revenue at INR 53 crore contributed 14%, Steel vertical revenue at INR 130 crore contributed 34% and the remaining INR 108 crores contributing 28% to the standalone revenue, came in from other verticals such as Tubes and ECD etc. Commenting on Q2 financial performance, Mr. K M Sunil, Vice President - Corporate Strategy, Pennar Industries Limited, said, "While on a standalone basis PIL reported encouraging performance, consolidated numbers are muted primarily due to lower than expected performance in Solar vertical. However, solar has picked up in the beginning of the third quarter and the vertical is expected to regain the lost ground during the remaining two quarters. With that, we are expecting full year performance to be quite encouraging."

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