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Profit before tax jumped 22.8% year on year to Rs 27.28 crore during the quarter.
EBITDA reported at Rs 34.5 crore in Q1 FY24, was up 38.3% as compared with Rs 25 crore in Q1 FY23. EBITDA margin stood at 22.6% in Q1 FY24 as against 27.4% in Q1 FY23.
As on 30 June 2023, the order book stood at Rs 1,078.8 crore.
Commenting on the results, Parvat Srinivas Reddy, managing director & promoter, MTAR Technologies, said, “The company shall be ramping up the revenues over the coming quarters. We are expecting accelerated inflow of orders in H2 FY24. Our closing order book by end of FY24 is estimated to be around Rs 1,500 crore.”
MTAR Technologies caters to Civil Nuclear Power, Space, Defence and Clean Energy sectors. The company has a long-standing relationship of over four decades with leading Indian organisations and global OEMs. It has seven manufacturing units, including an export-oriented unit, each based in Hyderabad, Telangana.
The scrip declined 3.69% to Rs 2,207.95 on the BSE.
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