Praj Industries gains after Q2 PAT rises 44% YoY

Praj Industries advanced 1.48% to Rs 438.75 after the company reported 44.4% rise in consolidated net profit to Rs 48.13 crore on a 64.6% increase in revenue from operations to Rs 876.58 crore in Q2 FY23 over Q2 FY22.

Total expenses jumped 66% YoY to Rs 816.96 crore in the second quarter, due to higher raw material costs (up 65.8% YoY), higher employee expenses (up 65.8% YoY) and higher other expenses (up 75.4% YoY).

Profit before tax in Q2 FY23 stood at Rs 65.78 crore, up by 40.6% from Rs 46.77 crore in Q2 FY22.

Praj Industries is an industrial biotechnology company. Its diverse portfolio comprises of bio-energy solutions, critical process equipment & skids, breweries, zero liquid discharge systems and high purity water systems.

 

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