MTAR Technologies Ltd clocks a revenue of Rs. 118.4 Cr in Q3 FY 24

MTAR Technologies Ltd ("MTAR"), a leading manufacturer engaged in manufacturing and development of mission critical precision engineered systems catering to Clean Energy - Civil Nuclear Power, Fuel Cells, Hydel & Others, Space, and Defence sectors has announced its unaudited financial results for the third quarter ended Dec 31, 2023.

YoY Q3 FY 24 vs. Q3 FY 23

- Revenue from Operations stood at Rs. 118.4 Cr. in Q3 FY 24 as against Rs. 160.2 Cr. in Q3 FY 23, 26.1% decrease YoY

- EBITDA reported at Rs. 23.9 Cr. in Q3 FY 24 as compared to Rs. 45.0 Cr. in Q3 FY 23, 47.0% decrease YoY

- Profit Before Tax stands at Rs. 12.9 Cr. in Q3 FY 24 as against Rs. 42.0 Cr. in Q3 FY 23, 69.3% decrease YoY

- Profit After Tax was at Rs. 10.4 Cr in Q3 FY 24 as against Rs. 31.4 Cr. in Q3 FY 23, 66.8% decrease YoY

Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, "Revenues in FY 24 shall be marginally higher as compared to FY 23 due to deferment of export shipments in Clean Energy sector to the next fiscal year. However, the growth outlook for FY 25 remains intact with 45% - 50% YoY likely increase in revenues. The company is in final stages of discussion with reputed global MNCs as well as made good progress in Small Satellite Launch Vehicle project."

Shares of Mtar Technologies Limited was last trading in BSE at Rs. 1916.20 as compared to the previous close of Rs. 1931.80. The total number of shares traded during the day was 22945 in over 3503 trades.

The stock hit an intraday high of Rs. 1944.30 and intraday low of 1885.00. The net turnover during the day was Rs. 43982387.00.

Source : Equity Bulls

Keywords

MtarTechnologies INE864I01014 Q3FY24 9MFY24 ResultUpdate