Praj Industries suffers net loss of Rs 10.5 cr for Q1FY21

New Delhi: Pune-based Praj Industries Ltd suffered a consolidated net loss of Rs 10.5 crore for the first quarter of the current fiscal as compared to a net profit of Rs 8.7 crore in the corresponding quarter of the previous fiscal.

The consolidated revenues from operations fell 39 percent to Rs 129 crore for the first quarter of the current fiscal as compared to Rs 211 crore in the corresponding quarter of the previous fiscal. 

The consolidated total expenses of the company declined to Rs 149 crore for the first quarter of the current fiscal as compared to Rs 209 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing.

The intake of order in the latest quarter was Rs 310 crore as against Rs 168 crore in the same quarter of the previous fiscal. The consolidated order backlog was Rs 1,263 crore as on 30 June 2020. This comprised of 84 percent domestic orders and the rest of international orders.

The company has secured a contract for supply of the critical equipment for Bhatinda 2G biorefinery project of HPCL.

"First half of the quarter was impacted due to pandemic induced lock down. The second half of the quarter saw progressive resumption and opening of operations across facilities and project sites. Our customer engagements across business domains continue to remain strong and we are encouraged by the traction in order enquiries and leads. We have further augmented our Biomobility platform offerings. Our MOU with ARAI for application development of advanced biofuels for surface transport and agreement with Gevo Inc., USA for sustainable aviation fuel will further expand the market and our offerings,” said Shishir Joshipura, CEO & MD, Praj Industries.

 

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