Palred Tech announces Q1 FY22 Results, Registers 84% YoY growth

Palred Tech announces Q1 FY22 Results, Registers 84% YoY growth


Hyderabad – Palred Technologies Limited, a Technology Solutions player across Consumer Electronics, eCommerce, and IT Solutions industries, announced its financial results for the quarter ending June 2021 for FY 2021-2022.

Financial Highlights:

Consolidated Revenue at INR 26.96 Cr for the quarter; growth of 84.36% YoY
EBIT at 1.09 crores in Q1 FY22, a YoY growth of 28.2% and 9.03% QoQ

pTron, the digital lifestyle and audio accessories brand Contributed significantly in the company’s growth and the overall performance. Owing to its major brand announcements, including the announcement of pan India Actress Pooja Hegde as its Brand Ambassador and the unveiling of its Made in India audio line of products range, the brand witnessed a spike in the sales volume across its diverse portfolio.

pTron recorded a huge YoY jump in overall sales, from 3.5 Lacs units sold in Q1 FY21 to 8.1 Lacs sold in Q1 FY22 witnessing over 132% growth. The brand’s Bluetooth Headsets and TWS (True Wireless Stereo) categories have recorded sales of 2.6 lac units and 1.9 lac units respectively. The consolidated sales for the audio category stand at 6.31 Lacs units sold in Q1 FY 22 compared to 3.06 Lac units sold in the same quarter last year, registering a staggering 106% growth.

Furthermore, pTron’s infrastructure readiness, with its manufacturing facility in Kurnool, Andhra Pradesh, facilitated an industry advantage in addressing the immediate demand from the price-sensitive Indian consumer.

Commenting on the financial performance, Mr. Harish Naidu, CFO, Palred Technologies Limited said, “Company’s financial performance is consistently improving quarter on quarter reflecting how our innovative products are helping consumers. Despite slowdown in April and May 21 due to Covid second wave, we have picked up in sales, revenues and profits. We are in a strong strategic and financial position with significant long-term plans that will help us take pTron to the next level“.

Mr. Ameen Khwaja, Founder & CEO, pTron said, “Our goal from the get-go was to make technology accessible to all. The combination of our team’s ambition and the robust demand for affordable and quality-backed digital accessories was a major push in the brand’s rapid growth in the Indian markets. With our new manufacturing facility, we are gradually integrating our supply chain to reduce dependence on external help. With 8.1 Lacs units sold only in Q1, we are aiming at 5 million-unit sales by the end of FY 2022 with a strong focus on Audio Category”.