PITTI Engineering Limited – Q1FY19 Comprehensive Income stood at Rs. 4.15 crore; Y-o-Y growth of 66.67%

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PITTI Engineering Limited - Q1FY19 Comprehensive Income stood at Rs. 4.15 crore; Y-o-Y growth of 66.67%

Chennai,  August 2018: Pitti Engineering Limited, formerly  known as Pitti Laminations Limited, is pleased to announce a robust growth for the quarter ending June 30, 2018.

The company reported a Comprehensive Income of Rs. 4.15 crore for Q1 FY19, up by 66.67%, as compared to Rs. 2.49 crore in the corresponding quarter of last fiscal. The Comprehensive Income margin improved to 3.17%, as compared to 2.51% in FY18 which is 26.29% higher YoY.

Particulars (₹ in Crs) Q1FY19 Q1FY18 YoY Q4FY18 QoQ
Revenue from Operations 130.98 99.29 31.92% 128.33 2.06%
EBITDA 18.91 12.46 51.77% 18.60 1.67%
EBITDA Margin (%) 14.49 13.60 6.54% 14.66 (1.16)%
Comprehensive Income (CI) 4.15 2.49 66.67% 2.23 86.10%
CI Margin (%) 3.17 2.51 26.29% 1.74 82.18%

 

Total Income for the quarter ended June 30, 2018 stood at ₹ 130.98 crore, up by 31.92 %, as compared to ₹ 99.29 crore in the same period last year. PITTI’s Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1FY19 stood at ₹ 18.91 crore, up 51.77% YoY.

Mr.  Sharad B. Pitti, Chairman & Managing Director of the Board of Pitti Engineering Limited, briefing on the robust performance explained, “With capital goods manufacturing picking up, Pitti Engineering Limited (PEL) is well placed to exploit the uptrend and as well sustain the margins growth. We are  positive that this outlook will continue for the next six to eight quarters as well.”

Mr.  Sharad B. Pitti, Chairman & Managing Director of the Board of Pitti Engineering Limited, briefing on the robust performance explained, “With capital goods manufacturing picking up, Pitti Engineering Limited (PEL) is well placed to exploit the uptrend and as well sustain the margins growth. We are  positive that this outlook will continue for the next six to eight quarters as well.”

Mr. Akshay S Pitti, Vice Chairman & Managing Director, mentioned “The commencement of a new manufacturing facility at Aurangabad enables PEL to provide composite engineering solutions, from high precision machine castings, lamination, sub-assemblies and assemblies to its customers. This ensures that PEL not only becomes a one stop solution, but it also cements its relationship with the large MNC customers who expect highest standards of quality and timely deliveries. PEL, in its space, has emerged as a major integrated and complete solution provider in the continent for its customers. Anything that rotates using electricity offers an opportunity and PEL is always involved with such a product.”

 PEL’s strengths also lies in its capabilities to design a process, its in-house tool manufacturing and its tools library helps in a quick turnaround time for its customers by way of a better supply chain management, shorter lead time, fewer vendor tracking and thus making the entire process cost and time efficient for the customer. “

“PEL has a strong presence in industries like railways, electric vehicles, industrial motors, aerospace, power (generation & consumption), mining, infrastructure, consumer durables, oil & gas etc, and we see a momentum picking up in these sectors.”  Mr. Akshay S Pitti concluded.