Pricol Ltd, a manufacturer of auto parts and precision engineered products, reported a standalone net profit of ₹13 crore for the quarter ended September 30, compared with a profit of ₹21 crore in the year-ago quarter.
Its operational EBITDA stood at ₹46 crore against ₹54 crore in the year-ago quarter. Revenue from operations grew marginally to ₹376 crore (₹372 crore). Profit before tax for the June quarter was flat at ₹20 crore.
“The semiconductor shortage situation continued in Q2 as well. On our part, we have continued to maintain operational efficiency to navigate through the challenges faced by the auto industry. Our primary focus during these times has been to create a strong order book, higher operational efficiency and increase free cash flow. We continue to invest heavily in next-gen technology to keep increasing our product portfolio and sustain growth,” Vikram Mohan, Managing Director, Pricol Ltd, said in a statement.
Pricol will continue to focus on debt reduction towards achieving a goal of being long-term debt free over the next few quarters.
“We are also currently evaluating multiple opportunities to enhance our product portfolio with a view to increase our shareholder wealth and keep our growth pace intact,” he added.