CHENNAI: Automotive manufacturers Pricol recorded a net profit of Rs 22.0663 crore in Jan-March quarter of FY-2015-16, recovering from the loss of Rs 2.4 crore recorded the previous year. For the full year, the company recorded a profit of Rs 43.1974 crore, from a loss of Rs 17.99 crore. Total revenues for the quarter increased by 49.6% from Rs 229.17 crore to Rs 342.8525 crore, compared to the same period the previous fiscal.
“We have seen positive results in FY 2015-16 with the last quarter boosting these numbers, conforming to our expectations. This year has been significant for Pricol Limited as we unveiled our new brand identity, scripted our Vision 2020 and have seen very positive results. With an optimistic business environment, increasing confidence in the market, anticipated growth in investment in infrastructure and an encouraging monsoon forecast, we are confident to continue this growth momentum.” Vikram Mohan, Managing Director, Pricol Limited. The stock price of pricol rose by 4.44% to Rs 55.30.
