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Pitti Engineering, formerly Pitti Laminations, has posted a profit of ₹2.23 crore for the fourth quarter ended March 31, 2018, against a profit of ₹0.41 crore for the corresponding quarter last year on a standalone basis. Total revenue was ₹126.92 crore (₹84.23 crore). For the full year ended March 31, 2018, the company posted a profit of ₹11.54 crore and revenue of ₹380.32 crore against a profit of ₹5.4 crore and revenue of ₹285.90 crore for the previous fiscal. Sharad B Pitti, CMD, said: “The company’s efforts for the past few years in becoming an integrated and key supplier to its global customers has resulted in higher revenues and better margins.” He said the company was on its path to be a total engineering solutions provider with enhanced capacities for its customers in the specified industry, which are mostly the large global MNCs.
Akshay S. Pitti, VC and MD said: “The outlook and visibility for the next six quarters is pretty positive.”
Pitti Engineering is a manufacturer of Stator and Rotor Core Assemblies, Die Cast Rotors and Assemblies and related items and caters to industries engaged in rail, road transportation, power generation, aerospace among others. GE, Alstom, Siemens, ABB, Cummins are among its customers.
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