Pitti Engineering nets ₹7.4 cr profit in Q1

Our Bureau Hyderabad | Updated on August 05, 2021

Declares an interim dividend of 37.50 paise per equity share.

Pitti Engineering Ltd has posted a profit of ₹7.40 crore for the first quarter ended June 30, 2021, against a loss of ₹9.78 crore in Q1FY21.

The company logged in revenues of ₹175.88 crore in Q1, as against ₹61.55 crore in Q1 FY21, registering a growth of 184.94%

The Board of Directors have declared an interim dividend of 37.50 paise (7.5 per cent) per equity share of the face value of ₹5 per share.

The company stated that its expansion at Aurangabad is in progress, and it acquired land for further development. The company facilities in Hyderabad and Aurangabad are running at peak capacities. The company has a long-term order book of ₹450 crore.

Akshay S Pitti, Vice Chairman & Managing Director, said, “We are seeing strong demand for our products and services across various applications from multiple end-user industries including railways, steel, cement and other sectors.”

Published on August 05, 2021

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