Praj increases its net profit by 50 per cent in Q1

Mumbai, July 21 (UNI) The global ethanol technology major, Praj, has increased its net profit by 50 per cent during the first quarter of the current fiscal. The company informed about the unaudited financial results for the Q1 through a release here this morning.

Praj recorded sales of Rs 81 crore (Rs 61 crore) with a PBT of Rs 11 crore (Rs 6.76 crore). PAT stood at Rs 8.4 crore (Rs. 5.6 crore). This translates into a 33 per cent increase in the turnover over same quarter in the previous fiscal with a 62 per cent increase in PBT and 50 per cent increase in PAT.

Company Chairman Pramod Choudhary said, ''The acceleration in upward trend in performance has already set in with increase in volume and margins.'' He hoped that this trend would further step up in the coming period. "This is the result of the preparedness exercise taken up by us in the last year", added Choudhary.

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