Gravita Profit After Tax surged 34% in Q3 FY 2018
Highlights of 3rd Quarter
- Gravita India Q3 PAT jumps to Rs. 10.20 cr from Rs.7.60 cr
- Gravita Q3 sales surge to Rs. 240.89 cr from Rs.175.54 cr
- Bestowed with Best Employer Award 2016
- Felicitated with Non-Ferrous Best Performance Award
- Received status of Authorized Economic Operator holder
|Consolidated Financial Performance for Q3FY18 vs Q3FY17
Gravita reported a 34 % rise in third quarter profit on the back of rising capacity and improved operational efficiency.
Gravita’s Profit after Tax (PAT) surged to Rs. 10.20 crore as against Rs. 7.60 crore for the corresponding quarter last year.
PAT margin stood at 4.23 % in Q3FY18 versus 4.33 % in Q3FY17.
Gravita India has 11 recycling plants across the world. The revenue for the quarter ending December rose by 37 % to Rs. 240.89 crore.
EBIDTA for the October-December period stood at Rs.19.06 crore as against Rs. 13.14 crore during the same quarter last year. EBIDTA margin stood at 7.91 % in Q3FY18 as against 7.49 % in Q3FY17.
Highlights during the quarter
- Gravita honoured with Best Employer Award 2016 for Excellence in maintaining harmonious Employer-Employee Relations by the Employers’ Association Rajasthan at Jaipur in November 2017.
- Gravita bestowed with Non-Ferrous Best Performance Award by Indian Institute of Metals (IIM) for casting and forgoing operations in November 2017.
- Gravita India Limited received status of Authorized Economic Operator holder under Customs Act in October 2017.