Palred Tech clocks ₹1.23 crore PAT in Q3

Our Bureau Hyderabad | Updated on February 15, 2021 Published on February 15, 2021

Hopes to close 2020-21 with ₹100 crore revenues

Palred Technologies Limited has reported a consolidated net profit of ₹1.23 crore in the quarter ended December 31, 2020, against a ₹1.72-crore loss in the corresponding quarter previous year.

The Hyderabad-based firm, which promotes pTron brand of electronics and mobile peripherals and accessories, registered a consolidated revenue of ₹31.43 crore during the quarter as against ₹12.29 crore in the same period previous year.

For the nine-month period, it reported a net profit of ₹ 3.19 crore as against a loss of ₹ 3.97 crore in the same period last year.

It registered a consolidated revenue of ₹85.38 crore (₹30.40 crore) during the nine-month period.

“The pTron brand contributed ₹29.21 crore in the quarter led by high volume demand for its home-manufactured offerings and a new audio range,” Ameen Khwaja, Founder and Chief Executive Officer, said. “The rapidly growing brand registered complete sales of 9 lak units during the quarter,” he said.

The pTron brand of Palred Electronics sold more than four million units in the financial year 2019-20.

“The work-from-home model along with online classes and the increase in fitness awareness led to an overwhelming demand for hands-free audio devices,” he said.

“Despite the severe global pandemic, the company has delivered a strong performance in operations and sales. We are hopeful of crossing the 100-crore mark in revenues in the financial year,” Harish Naidu, CFO, Palred Technologies Limited, said.

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Published on February 15, 2021
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