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Praj Industries (Praj), a globally leading process engineering company with a bouquet of sustainable solutions for bioenergy, energy transition announced its unaudited financial results for the quarter ended September 30, 2022 with recording income from operations at ₹876.58 crore (Q1 FY23: . ₹729.87 crore). The company reported an income of . ₹532.41 crore in the corresponding quarter of last year.
The company reported profit before tax (PBT) of ₹65.78 crore for the period (Q1 FY23: ₹. 54.23 crore; Q2 FY22: ₹46.77 crore).
The company’s PAT is higher at ₹48.13 crore as compared to ₹33.34 crore during the same period last year. During Q1 FY23, it has shown net profit of ₹41.26 crore.
Order intake during the quarter was ₹981 crore (Q1 FY23: ₹1,094 crore; Q2 FY22: ₹745 crore).
During H1 FY23, the company’s consolidated income from operations stood at ₹1,606.45 crore (H1 FY22: ₹918.67 crore). PBT is up at ₹120.01 crore for the period (H1 FY22: ₹76.57 crore), while PAT is higher at ₹89.39 crore (H1 FY22: ₹55.54 crore). Order intake has improved to ₹2,075 crore (H1 FY22: ₹1,406 crore).
Shishir Joshipura, CEO and MD, Praj Industries said, “Our results for the quarter are reflective of continually building favourable business environment. Global economy continued to face headwinds in form of geopolitical situation, high inflation, continued uncertainty and volatility on energy front in several parts of the world. Energy transition is creating several new opportunities for sustainable fuels and we are confident of leveraging them and deliver to our potential.”
Key Developments
In August 2022, Praj’s first 2G Bioethanol plant at IOCL Panipat was unveiled by Prime Minister in presence of cabinet ministers.
Praj has entered into MoU with ICT to establish Center Of Excellence and Innovation (COEI) for Biopolymers. This center will undertake research, promote academic pursuit, and explore newer applications including biodegradable plastic as a solution curb plastic menace
Praj received CAP 2.0 AWARD from Confederation of India Industries for contributions in the climate actions initiatives while Dr. Pramod Chaudhari was conferred with IACC’s Special Award 2022- ‘Outstanding Contributor to the Cross-Border Trade’
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