MTAR Technologies Ltd, a leading manufacturer engaged in the manufacturing and development of mission-critical precision-engineered systems catering to Clean Energy – Civil Nuclear Power, Fuel Cells, Hydel & Others, Space, and Defence sectors, has announced its unaudited financial results for the third quarter ended December 31, 2023.

YoY Q3 FY 24 vs. Q3 FY 23

●      Revenue from Operations stood at INR 118.4 crore in Q3 FY 24 as against INR 160.2 crore in Q3 FY 23, 26.1 percent decrease YoY

●      EBITDA reported at INR 23.9 crore in Q3 FY 24 as compared to INR 45.0 crore in Q3 FY 23, 47.0 percent decrease YoY

●      Profit Before Tax stands at INR 12.9 crore in Q3 FY 24 as against INR 42.0 crore in Q3 FY 23, 69.3 percent decrease YoY

●      Profit After Tax was at INR 10.4 Cr in Q3 FY 24 as against INR 31.4 crore in Q3 FY 23, 66.8 percent decrease YoY

On the results, Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, commented, “Revenues in FY 24 shall be marginally higher as compared to FY 23 due to the deferment of export shipments in the Clean Energy sector to the next fiscal year. However, the growth outlook for FY 25 remains intact, with a 45-50 percent YoY likely increase in revenues. The company is in the final stages of discussion with reputed global MNCs as well as making good progress in the Small Satellite Launch Vehicle project.”

For more information: www.mtar.in