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The board of directors of Pennar Industries Limited have approved the acquisition of Oneworks BIM Technologies.
Oneworks is engaged in supporting clients through the technical processes of Building Information Modelling Management and Data Collection. It deals in 3D digital Building Information modelling.
The services include developing, modelling, converting and mapping of buildings with seamless integration of building data in a 3D model. Its clients are from engineering and construction sectors.
The company posted a lower profit of ₹12.2 crore for the quarter ended December 31, 2019 against ₹15.2 crore in the corresponding period of the previous fiscal year on a consolidated basis.
The company logged in revenues of ₹537.4 crore in the December quarter (₹567.6 crore).
For the nine months ended December 2019, the company posted net revenues of ₹1,655.2 crore (₹1,548 crore) and profits of ₹52.1 crore (₹42.2 crore).
K M Sunil, Vice-President, PIL, said: “Our Q3 performance got impacted due to the challenging business environment. Pennar’s railways BU and pre-engineered buildings BU continue to see strong order inflow through the quarter and have healthy order-book positions.”
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