Pricol Ltd reports 55% rise in consolidated Q1 profit at Rs 31.93 cr

Auto components maker Pricol Ltd has reported a 55 per cent rise in its net profit for the April-June 2023 quarter at Rs 31.93 crore, the Tamil Nadu-based company said on Wednesday.

The firm had registered a consolidated net profit of Rs 20.59 crore registered in the same period of last year.

For the year ended March 31, 2023, the consolidated profit was Rs 124.68 crore, PRICOL Ltd said in a statement.

“With a strategic vision, collective efforts, and unwavering support of our team, we have reported a sharp increase in the revenue this quarter and achieved the highest ever topline in Q1 in the history of our company,” Managing Director Vikram Mohan said about the financial performance.

Total income during the April-June 2023 quarter went up to Rs 540.05 crore from Rs 446.44 crore registered in the same period of last year.

For the year ended March 31, 2023, the consolidated total income was Rs 1,963.14 crore.

“The numbers are also higher than the revenue reported during Q4 in the previous financial year, which clearly shows an upward trend in line with our vision. Not only did we achieve good financial results, but we also secured multiple prestigious awards during the quarter which further strengthened our customer’s trust,” he said.