MTAR Technologies Ltd on Wednesday posted a 56 per cent rise in its consolidated net profit to Rs 31 crore during March FY 2022-23 quarter, on account of higher income.

It had clocked a net profit of Rs 19.8 crore during the January-March quarter of FY 2021-22, the company said in a regulatory filing.

The company’s total income during the fourth quarter rose to Rs 200.9 crore from Rs 101 crore in the year-ago period.

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Total expenses were at Rs 157.9 crore as against Rs 77.2 crore a year ago.

Hyderabad-based MTAR Technologies Ltd (MTAR) is engaged in the manufacturing and development of critical precision-engineered systems.