Azad Engineering Q2 Results: Azad Engineering released its September quarter results of the current financial year on Saturday, November 1. The company said that its net profit in the September quarter increased by 60% year-on-year to Rs 33 crore, which was Rs 20.5 crore in the same quarter last year.
The company’s revenue during this period increased by 30.6% on an annual basis to Rs 145.6 crore, which was Rs 111.5 crore in the same quarter last year. Azad Engineering’s operating profit increased by .1% to ₹53.2 crore in the September quarter from ₹40.3 crore in the same quarter last year. EBITDA margin improved to 36.5%, compared to 36.1% in the same quarter a year ago.
Boom in energy and aerospace segments
At the same time, revenue from Aerospace and Defense segment was Rs 47.1 crore, which was Rs 36.1 crore in the same quarter last year. This segment now accounts for 30.3% of total revenues. Secondly, operating revenue declined to ₹4 crore, from ₹7.1 crore last year.
Business increased due to exports
The company’s export revenue stood at Rs 260.4 crore, which has increased from last year’s Rs 194.3 crore. This is 34% of the total revenue of the company. At the same time, domestic sales stood at ₹16.8 crore, which was ₹15.6 crore last year, i.e. 7.4% of the total revenue.
Rakesh Chopdar, Chairman and CEO, Ajaz Engineering, said, “Today we have three client-specific plants, which demonstrate our synergy with global OEMs and our ability to scale rapidly. The 35.7% growth in the Energy and Oil & Gas segment during the first half is a testament to our success in this direction. Also, the 30.3% growth in the Aerospace & Defense segment due to the commercialization of new products. “Strong gains have been registered.”
slight decline in stock market
At the end of trading, shares of Azad Engineering closed at Rs 1,695.95, showing a marginal decline of Rs 2.80 or 0.16%.
Disclaimer: The views and investment advice given by experts/brokerage firms on Moneycontrol are their own and not those of the website and its management. Moneycontrol advises users to consult certified experts before taking any investment decision.