Va Tech Wabag Ltd (Wabag), a leading player in the water technology space, has reported a 29 per cent increase in consolidated profit after tax (PAT) at ₹60.2 crore for the quarter ended September 30, 2023, when compared to a PAT of ₹46.7 crore in the year-ago quarter amid a drop in revenue.

Profit before exceptional items and tax stood at ₹82.9 crore, against ₹80.3 crore. Consolidated revenue from operations was lower at ₹665 crore in the September 2023 quarter, compared to ₹750.4 crore in the September 2022 quarter.  

Standalone PAT grew to ₹54.1 crore against ₹34 crore in the year-ago period. Revenues stood at ₹604.1 crore, against ₹573 crore. For the half-year ended September 30, 2023, its consolidated PAT grew 43 per cent at ₹110.2 crore (₹76.9 in H1 of FY23), while revenue stood at ₹1,217.8 crore against ₹1,382.1 crore.

“We continued to deliver profitable growth this quarter as well with our persistent focus on industrial, international, and multilateral funded projects. Technology focus and cash accretive projects have been reaping the desired benefits and we have been consistently improving our operating margins through execution efficiencies,” said Rajiv Mittal, Chairman and Managing Director, VA Tech Wabag Ltd.

Its order intake in Q2 of this fiscal was ₹1,317 crore. As of September 2023, the company carried a total order book size of more than ₹12,100 crore, including framework contracts, according to a statement.

“Our order book with a healthy mix of EPC and O&M provides strong visibility of our future revenues, robust cashflows, and strong margin profile going forward. Sustainable and profitable growth with a cash-positive status have been our foremost targets, added Mittal.

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