One of India’s top businesses for precision-engineered solutions and automotive technology is Pricol Limited, with its headquarters in Coimbatore. Being dedicated to achieving leadership and quality since the company’s 1975 founding has helped it grow into a well-known name in the worldwide automotive sector.

The company has 3 international offices, 400+ product and process engineers, 9 manufacturing facilities, and 7 vehicle categories. 

Auto components maker Pricol Ltd has reported a 55 per cent rise in its net profit for the April-June 2023 quarter at Rs 31.93 crore, the Tamil Nadu-based company said on Wednesday.

Note: If you want to learn Candlesticks and Chart Trading from Scratch, here’s the best book available on Amazon! Get the book now!

The firm registered a consolidated net profit of Rs 20.59 crore registered in the same period last year.

For the year ended March 31, 2023, the consolidated profit was Rs 124.68 crore, PRICOL Ltd said in a statement.

“With a strategic vision, collective efforts, and unwavering support of our team, we have reported a sharp increase in the revenue this quarter and achieved the highest ever topline in Q1 in the history of our company,” Managing Director Vikram Mohan said about the financial performance.

Total income during the April-June 2023 quarter went up to Rs 540.05 crore from Rs 446.44 crore registered in the same period of last year.

For the year ended March 31, 2023, the consolidated total income was Rs 1,963.14 crore.

“The numbers are also higher than the revenue reported during Q4 in the previous financial year, which clearly shows an upward trend in line with our vision. Not only did we achieve good financial results, but we also secured multiple prestigious awards during the quarter which further strengthened our customer’s trust,” he said.