MTAR Technologies Ltd, which is engaged in the manufacture and development of precision-engineered systems for clean energy, has reported a lower net profit of Rs 20.5 crore in the second quarter ended September 30, 2023, as against Rs 24.7 crore in the comparable quarter last year, a decline of 17.1 per cent.

During the period, it registered revenue from operations of Rs 166.8 crore, as against Rs 126.2 crore in the comparable quarter last year, an increase of 32.2 per cent.

The company caters to the needs of sectors such as civil nuclear power, fuel cells, space, and defence.

“We have revised our annual guidance for the financial year 2023-24 to about Rs 670-700 crore, as against the previous guidance of around Rs 830-860 crore, with an EBITDA margin of around 26 per cent,” Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies Limited, said in a statement.