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Praj Industries (Praj) has reported a 19 per cent decline year on year in its Q1 net profit.
The Company’s net profit in Q1 14, after minority interest, stood at Rs 2.49 crore against Rs 3.09 crore in Q1 13. Income from operations in the two quarters under review stood at Rs 221 crore and Rs 173 crore respectively, translating into a growth of 28 per cent YoY.
“The operating margin is higher when compared to corresponding quarter of last year. We see some green-shoots in the Indian economy. Any change in the investment cycle will bode well for the business,” Gajanan Nabar, CEO & MD, Praj Industries, said in a statement.
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