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MTAR Technologies has posted a profit of ₹18 crore for the fourth quarter ended March 31, 2021, up 103 per cent as against a profit of ₹8.9 crore for the corresponding quarter last fiscal.
The Hyderabad based precision engineering solutions company logged in revenues of ₹69.2 crore for the fourth quarter as against ₹61.6 crore, registering a growth of 12 per cent.
The company’s closed financial year ended on March 31, 2021 with a profit of ₹46.1 core, up 47 per cent over ₹31.3 crore in the previous fiscal. The company logged revenues of ₹246.4 crore for FY 2021, up 15 per cent over ₹213.8 crore for FY 2020.
The Board has recommended the final dividend at 30% i.e. ₹3 per share of face value of ₹10 each for the financial year ended on March 31, 2021.
The company has an order book of ₹415.90 crore in FY21 with orders from nuclear 29.2%, clean energy 34.5%, space & defense 36.1% and others 0.2%.
Srinivas Reddy, Managing Director for MTAR Technologies said “Despite challenges faced due to Covid-19 pandemic during the year gone by, the company has been able navigate and deliver resilient performance for the quarter and year ended FY21. We have been able to penetrate deeper among the existing customers and are witnessing traction from new customers across geographies.”
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