India’s leading automotive component manufacturer Pricol Limited has announced its fourth quarter and annual results for FY 2017-18 today.
According to their note, Pricol Limited’s standalone total income grows by more than 40% in Q4, where the Net Profit after tax grew from INR 9.3 Million in last year to INR 326 million this year. The total income from Fiscal Year 2017-18 has grown by 4% from INR 12701 million to INR 13220 million. Their sales revenue has grown by 18%, excluding sales from Speed Limiting Devices.
Pricol Mr. Vikram Mohan, Managing Director, Pricol Limited said “Pricol Limited witnessed agood 4th quarterwith total income growing by 40% against the corresponding quarter last year. Annual Standalone Total income grew by 4%, despite the drop in revenues from Speed Limiting Devices an effect to the implementation of BS IV norms.”
He further added, “FY 17-18 has been quite eventful for Pricol Limited with numerous partnerships and an acquisition that has been successfully executed. Technology partnerships for Oxygen Sensors, Electrical Water Pumps and Fuel Pump Modules and the acquisition of our Wiping Systems Business has opened multiple avenues of growth. By expanding our product portfolio, manufacturing presence and technological capabilities, we are certainly Poised for Growth.”