Va Tech Wabag Q1 PAT shows 200% YoY increase

Our Bureau Chennai | Updated on August 11, 2021

MD credits strong order book as reason

Va Tech WABAG Ltd (WABAG), a leading player in water technology space, reported a strong increase in its consolidated profit after tax (PAT) at ₹15 crore for the quarter ended June 30 when compared to a PAT of ₹5 crore in the same quarter a year ago.

Profit before exceptional items and tax stood at ₹20 crore against ₹7 crore in the corresponding period last year. Consolidated revenue from operations grew 52 per cent to ₹658 crore (against ₹431 crore) on the back of a strong order book.

Increased orders

Its order intake in Q1 of this fiscal was ₹1,448 crore and total order book size was more than ₹10,400 crore including framework contracts, according to a statement put out by the company.

Also see: Va Tech Wabag secures $165-m water treatment order from Russia

“We have been witnessing continuous improvement in the pace of business activities over the last few quarters as the Covid-19 situation eases and this is the case in Q1 FY22 as well. The projects have picked up good pace and we are confident of another year of profitable growth in FY22,” said Rajiv Mittal, Managing Director, Va Tech WABAG.

“Our order intake has started showing traction and we are very happy with the latest order of $165 million secured from the oil and gas sector in Russia, which is set to be a game changer for WABAG. Going forward, our order pipeline looks strong,” he added.

Published on August 11, 2021

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