August 8, 2023
Coimbatore : Pricol, India’s leading manufacturer and distributor of automobile spare parts, has announced its financial results for the first quarter of FY2024. Compared to the consolidated financial results for the first quarter of the last financial year 2023, its growth has increased by 55.09 percent in the first quarter of the current financial year and the profit after tax has increased to 319 million, the company said.
Further details are as follows:- In the first quarter of the current financial year, its revenue from operations increased by 20.31 percent quarter-on-quarter to 5,221 million, earnings before interest, tax, depreciation increased by 17.39 percent to 665 million, and margin before interest, tax, depreciation, and tax was 12.74 percent. 55.09 per cent increase in post profit to Rs 319 million. Pricol won the “Best Supply Chain Management” award at the annual supplier conference 2023 organized by Suzuki Motorcycle India. Also, the company was selected as one of the key suppliers to present at the conference on how we have overcome the supply chain challenges faced by the automotive industry for semiconductor devices. Similarly, the World Manufacturing Congress honored it with the “Best Company” award at the ‘Coimbatore Leadership Award 2023’. The company has made major investments in various expansion projects including tool room, plastic parts molding department, new driver information system assembly, surface mount technology lines and robotic inspection systems. Vikram Mohan, Managing Director, Pricol said, “With vision, collective efforts of our employees and unwavering support of our team, our revenue has increased this quarter. The revenue is now up compared to the same period in the previous financial year. This clearly shows our journey ahead. This quarter our revenue is growing well and we have won many prestigious awards, which instills great enthusiasm and confidence in our employees, which is a testament to the dedicated work of our team.