GMM Pfaudler's profit after tax improved significantly to Rs 251 mn, up 53 per cent versus Rs 164 mn during Q1 FY21

Mumbai (Maharashtra) [India], Oct 22 (ANI/VRPR Digital): GMM Pfaudler (GMMP) a leading supplier of process equipment to the pharmaceutical and chemical industry segments today announced its second quarter (Q2FY21) and Half Year (H1FY21) results for the period ended September 30t, 2020.

GMM Pfaudler's operating revenue increased to Rs 1,541 million, a jump of 18 percent over Q1 FY21, while the EBITDA increased to Rs 367 mn, up 51per cent versus Rs 243 million during Q1 FY21. The company's profit after tax improved significantly to Rs 251 million, up 53 per cent versus Rs 164 mn during Q1 FY21

Business Highlights:

GMM Pfaudler has commenced operations at its Glass Lined Equipment manufacturing facility at Nacharam, Hyderabad which it had acquired from De Dietrich Process Systems India Pvt. Ltd's (DDPSI) in July, 2020.

Management Comment

"This has been a very strong quarter for us where we have managed to improve both revenue and profitability. The improvement in profitability is expected to continue on the back of incremental revenue, operating leverage, and some of our strategic initiatives paying off. Our Hyderabad manufacturing facility is now up and running and we expect to close the Pfaudler International acquisiton by the end of the calendar year," said Tarak Patel, Managing Director, while commenting on the Company's performance for Q2FY21.

"We remain confident on the long term prospects of the Company," Tarak Patel added.

Financial Performance - Standalone

Financial Performance - Consolidated

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