Companies

Palred Tech reports ₹1.50 crore PAT as pTron brand boosts revenues

Our Bureau Hyderabad | Updated on November 18, 2020 Published on November 18, 2020

Demand pTron brand, the company’s electronic and mobile accessories business, contributed to performance

Palred Technologies Limited, an electronics peripherals and e-commerce players, has posted a net profit of ₹1.50 crore in the second quarter ended September 30, 2020, as against a loss of ₹96 lakhs in the same period last year.

Also read: Palred Tech launches Xmate brand

It registered a total income of ₹39.82 crore in the quarter as against ₹11.52 crore in the comparable quarter last year.

The pTron brand, the company’s electronic and mobile accessories business, generated revenues of ₹34.55 crore in the quarter, triggered by a high volume of demand for its audio accessories.

“We sold over 7.87 lakh units of pTron accessories in the quarter,” the company said.

It said the brand continued to do well in October. “We sold 4.05 lakh pieces as against 95,534 pieces that we sold in the same month last year,” it said.

“The company is on a strong growth trajectory with only the first two quarters in this fiscal, recording consolidated revenues of ₹54 crore as against the annual revenues of ₹45 crore for the financial year 2019-20,” Harish Naidu, Chief Financial Officer of Palred Technologies Limited, said.

The firm registered a profit of ₹1.95 crore in the first half of the financial year as against a loss of ₹2.25 crore in the same period last year.

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Published on November 18, 2020
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