Pitti Engineering Ltd. reported net profit for the quarter ended December 2022 grew 4.57% to ₹12.13 crore from ₹11.60 crore in the year earlier period.
Revenue from operations was lower at ₹239.08 crore compared with ₹265.46 crore in Q3 of FY22.
Akshay S. Pitti, vice-chairman & MD said, “Our financial and operational performances during the quarter are largely in line with expectations. With a healthy order book, our balance sheet and cash flow continue to be strong.”
“We are following judicious cost control measures across the organisation and are focusing on deleveraging our balance sheet further. This will help us build a robust liquidity buffer and our expansion plans over the medium and long terms can be funded largely through internal accruals,” he said. “Going forward, we see equally good demand from both railways and non-railways business. Our focus on our new components business will continue, which will see sizable growth from the next financial year,” he added.
