Praj record 60 pc growth in PBT, income grows at 20 pc

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Hyderabad, May 7 (UNI) Praj Industries, a global biofuels technology Company, today announced that the company has recorded 60 per cent growth in Profit Before Taxes (PBT) and 20 per cent increase in income during the fiscal year 2007-08.

According to a press release here, the company achieved a sterling growth in margins with PBT at Rs 174.38crores (Rs 110.36 crores) and PAT at Rs 153.54 crores (Rs 86.52 crores).

The company recorded the growth in total income of 20 per cent at Rs 740.30 crores (Rs 616.40 crores). EBIDT margin at 20 per cent has also shown a smart growth over previous fiscal when it stood at 17 per cent. Basic Earning Per Share stood at Rs 8.55, Rs two per share.

''The margins have shown significant improvement, despite increase in steel prices(input), largely due to our ability to drive down cost as a result of value engineering exercises undertaken by us as well as the product mix,'' Praj CEO and MD Shashank Inamdar said.

The company has also benefited due to its manufacturing activities in the Special Economic Zone at Kandla. The Company has begun exports from this facility since its inauguration in August, 2007.

''With our global strategy in place and our total solutions for different regions, we can already see a traction in our business from across the world. We have also intensified our activities in the areas of new technologies so as to grow the scope of our business,'' Praj Chairman Pramod Chaudhari said.

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