Va Tech WABAG Ltd (WABAG), a leading player in the water technology space, has reported strong growth in its consolidated profit after tax at ₹30.14 crore for the quarter ended June 30 compared with a PAT of ₹15.23 crore in the year-ago quarter, an increase of 98 per cent.
Profit before exceptional items and tax stood at ₹39.15 crore against ₹20.24 crore. Consolidated revenue from operations posted a marginal decline of 4 per cent at ₹632 crore when compared with ₹658 crore.
For the June 2022 quarter, its standalone PAT and revenue stood at ₹25 crore (₹10 crore) and ₹485 crore (₹470 crore) respectively.
Its order intake in Q1 of this fiscal was ₹1,093 crore (₹1,448 crore in Q1 of FY22). However, its total order book size is more than ₹10,500 crore including framework contracts, according to a statement.
“It is extremely heartening that our strategy of focusing on industrial, international and cash accretive projects has been reaping the desired benefits. We have been consistently improving our operating margins through execution efficiencies. Our order book position which has remained over ₹10,000 crore consistently provides confidence in our future revenues. Profitable growth has been our foremost target and we have been displaying the same every quarter,” Rajiv Mittal, Chairman, Managing Director & Group CEO, Va Tech WABAG, said.