MTAR Technologies Doubles Profit Amid Revenue Surge

MTAR Technologies reported a net profit of Rs 34.6 crore for the December quarter, driven by increased revenue. This marks a significant jump from the Rs 15.9 crore profit recorded in the same quarter last year. The company's income soared to Rs 280.3 crore from Rs 177.6 crore.

MTAR Technologies has effectively doubled its profit for the December quarter, achieving a consolidated net profit of Rs 34.6 crore. This significant increase is a result of enhanced revenue streams, as per the company's exchange filing.

In a year-on-year comparison, the net profit in the October-December period rose sharply from Rs 15.9 crore. The Hyderabad-based company's total income also witnessed a substantial boost, reaching Rs 280.3 crore compared to Rs 177.6 crore in the third quarter of the previous fiscal year.

The diverse operational sectors of MTAR Technologies, including power, renewable energy, and oil and gas, have contributed to this financial success. The company's shares marked a 1.49 percent increase, closing at Rs 2740.95 on the BSE.

(With inputs from agencies.)