Pritika Engineering's Strategic Growth Fuels 78% Profit Surge

Pritika Engineering Components reported a 78.20% increase in net profit for the September 2024 quarter, driven by a 40.59% rise in revenue. The company is focusing on strategic growth by expanding into the railways and defence sectors, supported by a successful rights issue raising Rs 49.90 crore.

Pritika Engineering Components announced a significant 78.20% surge in its net profit to Rs 1.64 crore for the September 2024 quarter, primarily due to an impressive rise in revenues.

The company's revenue jumped 40.59% year-over-year, reaching Rs 32.03 crore in Q2 FY25, compared to Rs 22.78 crore in the same period last year. In H1 FY25, revenues grew by 23.97% to Rs 54.92 crore, while net profit increased by 39.87% to Rs 2.58 crore.

Managing Director Harpreet Singh Nibber expressed satisfaction over the financial performance, which was aided by strategic initiatives and market demand. Pritika Engineering is diversifying into high-growth sectors like railways and defence and recently concluded a rights issue to fund expansions, raising Rs 49.90 crore.

(With inputs from agencies.)