on new business and cost control, auto component
showed a spike in revenue for the January-March quarter after two successive
years of loss. Revenue for the quarter improved 60% year-on-year to Rs 4.21
billion and the EBITDA improved
50% to Rs 0.57 billion. The growth is attributed to increase in automotive
sales. The company reported a net profit of
Rs 0.03 billion. There was a loss of Rs 1.21 billion last year.
According to Vikram Mohan, Managing Director, Pricol Limited, the growth for FY 21 has
been higher than the growth of the corresponding segments of the market. He
added that the growth was mainly due to the introduction of new products and
increased share of business from their customers due to sustained performance
and cost control. He also said that the sharp increase in commodity prices
eroded the company’s margin during the quarter.
He stated that the company is highly
dependent on import of electronic child parts and the global shortage of ICs
(integrated circuits) resulted in higher raw material prices and loss of
For the complete fiscal year ending in March, Pricol
reported a profit of Rs 0.15 billion against a loss of Rs 2.13 billion in FY20.