Pricol’s Q1 FY18 profit of Rs 5.03 crore down 69% YoY

Coimbatore-based components manufacturer Pricol Ltd has reported Q1 FY2017-18 standalone revenue of Rs 322 crore, a decrease of 13.44 percent compared to the same period last year (Q1 FY2016-17: Rs 372 crore). Total revenues were marginally better, by 6.94 percent, compared to Rs 301 crore in the preceding quarter.

Profit After Tax (PAT) declined by 69.23 percent, at Rs 5.03 crore compared to Q1 FY2016-17’s Rs 16.36 crore.

Earlier last month, Pricol acquired PMP Auto’s wiper system business and diversified its product offerings and gaining access to manufacturing facilities in Europe and North America where it did not have a footprint.  The company is also gearing up for BS IV when it inked an exclusive agreement with Kereda Technologies for the latter’s oxygen (o2) sensors.

The company’s director in an interview last year had spoken to Autocar Professional about their aggressive plans for plugging in the gaps in its product portfolio through acquisitions in Europe and the US.