Hyderabad, 18th August 2023: Pitti Engineering Limited has declared its financial results for the Quarter ended June 30, 2023.
(₹ in crore)
| Particulars | Q1FY24 | Q1FY23 | YoY (%) |
| Total Revenue | 290.71 | 311.06 | (6.54) |
| EBITDA | 42.43 | 35.45 | 19.69 |
| EBITDA per tonne (₹) | 42,607 | 40,539 | 5.10 |
| PAT | 13.97 | 11.71 | 19.30 |
Q1 FY24 – Financial Highlights
Total Revenue was at ₹290.71 crores, as compared to ₹ 311.06 crore in Q1 FY23, down by 6.54%.
- EBITDA was at ₹42.43 crore, as compared to ₹ 35.45 crore, registered a growth of 19.69%
- EBITDA per tonne stands at ₹42,607, as compared to ₹ 40,539 in Q1 FY23, registered a growth of 5.10%
- Net Profit was at ₹13.97 crore, as compared to ₹ 11.71 crore in Q1 FY23, clocking a growth of 19.30%
Operational Highlights:
- We achieved the sales volume of 9,958 MT inQ1 FY24. The market outlook remains positive with robust demand for our products and services.
- Our EBIDTA forQ1 FY 24 grew by 19.69% year-on-year growth to ₹ 42.43 crore, highest ever EBITDA recorded for a quarter.
- Our Company has recorded a net profit of ₹13.97 crore, indicating a year-on-year growth of 19.30% against, ₹11.71 crore in Q1FY23.
- The ongoing brownfield expansion at our facilities is progressing as planned.
Commenting on the results, Mr. Akshay S. Pitti, Vice Chairman and Managing Director, said that
“Pitti Engineering Limited has achieved an exceptional milestone by recording its highest-ever EBITDA of ₹ 42.43 crore for Q1 FY 24 with a YoY growth of 19.69%. Our blended EBITDA was at ₹ 42,607 per MT, while the net profit surged to ₹ 13.97 crore with a YoY growth of 19.30%.”
“On the capex side, the brownfield expansions at Aurangabad and Hyderabad remain on track. The marginal de-growth in revenues were on account of reduction in cost of raw materials. The demand outlook and volumes in the second quarter are very encouraging and we are on track to achieve our guidance on both volumes and profitability for the year.”