{"id":107319,"date":"2023-08-17T15:51:52","date_gmt":"2023-08-17T10:21:52","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=107319"},"modified":"2023-08-17T15:51:53","modified_gmt":"2023-08-17T10:21:53","slug":"pitti-engineering-q1-24-results-company-reports-19-increase-in-net-profits","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pitti-engineering-q1-24-results-company-reports-19-increase-in-net-profits\/","title":{"rendered":"Pitti Engineering Q1 \u201824 Results: Company Reports 19% Increase in Net Profits"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1668513832\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/PITTIENG\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Pitti Engineering Ltd<\/a><\/strong>., which is into the manufacturing of traction and special purpose motors and generators, has reported a net profit of \u20b9 13.97 crore, 19.30% YoY growth from \u20b9 11.71 crore in Q1 \u201823. <\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-465055012\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>It also recorded the highest ever EBITDA for a quarter at \u20b9 42.43 crore as compared with \u20b9 35.45 crore, up 19.69% YoY. The company\u2019s total revenues for Q1\u201924\u00a0 was at \u20b9 290.71 crore, vs \u20b9 311.06 crore, down by 6.54% YoY.\u00a0<\/p><p>During the quarter the company achieved a sales volume of 9,958 MT. The market outlook remains positive with robust demand for the company\u2019s products and services. <\/p><p>The ongoing brownfield expansion at its facilities is progressing as planned. Commenting on the results, Mr. Akshay S. Pitti, Vice Chairman and Managing Director said the company has reached a milestone in terms of EBITDA profitability.<\/p><div class=\"trade-content_5\" id=\"trade-3065943904\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>On the capex side, the brownfield expansions at Aurangabad and Hyderabad are on track. The slight decrease\u00a0 in revenues was on account of the cost of raw materials. <\/p><p>The company expects demand outlook and volumes in the second quarter to be very encouraging and stated they are on track to achieve guided numbers on both volumes and profitability for the year.<\/p><div class=\"trade-after-content\" id=\"trade-4013656959\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Pitti Engineering Ltd., which is into the manufacturing of traction and special purpose motors and generators, has reported a net profit of \u20b9 13.97 crore, 19.30% YoY growth from \u20b9 11.71 crore in Q1 \u201823. It also recorded the highest ever EBITDA for a quarter at \u20b9 42.43 crore as compared with \u20b9 35.45 crore, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":44713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-107319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pitti Engineering Q1 \u201824 Results: Company Reports 19% Increase in Net Profits - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Pitti Engineering Ltd., which is into the manufacturing of traction and special purpose motors and generators, has reported a net profit of \u20b9 13.97 crore, 19.30% YoY growth from \u20b9 11.71 crore in Q1 \u201823.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/pitti-engineering-q1-24-results-company-reports-19-increase-in-net-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pitti Engineering Q1 \u201824 Results: Company Reports 19% Increase in Net Profits\" \/>\n<meta property=\"og:description\" content=\"Pitti Engineering Ltd., which is into the manufacturing of traction and special purpose motors and generators, has reported a net profit of \u20b9 13.97 crore, 19.30% YoY growth from \u20b9 11.71 crore in Q1 \u201823.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/pitti-engineering-q1-24-results-company-reports-19-increase-in-net-profits\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-17T10:21:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-17T10:21:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/05\/Company-Results-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/pitti-engineering-q1-24-results-company-reports-19-increase-in-net-profits\/\",\"url\":\"https:\/\/tradebrains.in\/features\/pitti-engineering-q1-24-results-company-reports-19-increase-in-net-profits\/\",\"name\":\"Pitti Engineering Q1 \u201824 Results: Company Reports 19% Increase in Net Profits - 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