PPAP Automotive Limited Q1FY17 PAT up by 20% at Rs. 3.57 Crore
NOIDA, India, August 11, 2016 --
Result Highlights for the Quarter Ended June 30, 2016 (Q1FY17):
- Total Income of Rs. 80.99 Crore
- Net Profit of Rs. 3.57 Crore; y-o-y Growth of 20%
- EPS for Q1FY17 Stood at Rs. 2.55, as Compared to Rs. 2.12 for Q1FY16
PPAP Automotive Limited (PPAP), a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Automotive parts, today declared its financial results for the first quarter ended June 30, 2016.
The company reported a healthy increase of 20% in its Net Profit to Rs. 3.57 crore for Q1FY17, as compared to Rs. 2.97 crore in the corresponding quarter of last fiscal.
Total income for the quarter ended June 30, 2016 stood at Rs. 80.99 crore, as compared to Rs. 73.23 crore in the same period last year.
PPAP's Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1FY17 stood at Rs. 12.62 crore.
Commenting on the financial performance of the company Mr. Ajay Kumar Jain, the Chairman and Managing Director, PPAP Automotive Limited, said, "The sales for the current quarter have been muted due to the reduced demand from customers owing to shutdowns, inventory adjustments and unfortunate incidents. However, the company continues to drive the operational efficiency initiatives resulting in higher margins compared to previous years. The improvement in economic factors, good monsoon season as well as the increase in disposable income arising from the pay-outs of the 7th pay commission will further boost the company's performance."
Earnings per share (EPS) for the quarter ended Q1FY17 stood at Rs. 2.55, as compared to Rs. 2.12 for the quarter ended June 30, 2015.
About PPAP Automotive Limited (http://www.ppapco.in/; BSE: 532934; NSE: PPAP)
PPAP Automotive Limited (PPAP) is a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Automotive parts in India. The company's state of the art manufacturing facilities are located in Noida (UP), Greater Noida (UP), Chennai (Tamil Nadu) and Pathredi (Rajasthan). All the plants are TS 16949, ISO 14001 and OHSAS 18001 certified. All the facilities are equipped with the latest technology available today for plastic extrusion as well as injection molding.
The company's core competence is in polymer extrusion-based automotive sealing system and injection molded products. The company has capability to extrude up to four materials in the same profile according to customer specifications. It has the capability of processing engineering plastics like PVC, PP, ABS and TPO. Today, the company manufactures over 500 different products for its customers and continuously targets to achieve zero ppm in quality and delivery performance for all its customers. The company's customers include prestigious manufacturers like Maruti Suzuki India Limited, Honda Cars India Limited, General Motors India Private Limited, Toyota Kirloskar Motor Private Limited, Renault Nissan Automotive India Private Limited, Tata Motors Limited, Ford India Private Limited and Mahindra and Mahindra Limited along with other OEM's. The company also caters the requirements of their respective Tier 1 suppliers.
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Shahab Shaikh
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PPAP Automotive Limited
SOURCE PPAP Automotive Limited
