MTAR clocks a revenue of Rs. 118.4 Cr ­in Q3 FY 24

Hyderabad, Feb 14, 2024: MTAR Technologies Ltd (“MTAR”), a leading manufacturer engaged in 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 Dec 31, 2023.

YoY Q3 FY 24 vs. Q3 FY 23:

  • Revenue from Operations stood at Rs. 118.4 Cr. in Q3 FY 24 as against Rs. 160.2 Cr. in Q3 FY 23, 26.1% decrease YoY
  • EBITDA reported at Rs. 23.9 Cr. in Q3 FY 24 as compared to Rs. 45.0 Cr. in Q3 FY 23, 47.0% decrease YoY
  • Profit Before Tax stands at Rs. 12.9 Cr. in Q3 FY 24 as against Rs. 42.0 Cr. in Q3 FY 23, 69.3% decrease YoY
  • Profit After Tax was at Rs. 10.4 Cr in Q3 FY 24 as against Rs. 31.4 Cr. in Q3 FY 23, 66.8% decrease YoY

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