PTC Industries Ltd‘s shares were up by 1.91 per cent after the company reported a 59.9 per cent increase in profit for the quarter ended March 31, 2024, at ₹147.2 crore compared to ₹92 crore during the corresponding quarter last year. The company’s revenues were up by 22 per cent to ₹765 crore compared to ₹626 crore last year. Sequentially, the company’s profits were higher by 59 per cent than the previous quarter.
The company also unveiled business updates for Q4FY24. The company revealed its investment in Green Titanium technology, aimed at sustainable production of Titanium alloys by utilizing Titanium scrap and reducing environmental impact.
Additionally, PTC Industries disclosed its investment in a Joint Venture for Defence Testing Infrastructure. The company also provided an update on its ongoing CAPEX, highlighting the acquisition of equipment for its Aerospace and Defense material manufacturing facility.
Sachin Agarwal, Chairman & Managing Director, said, “Our dedication to excellence is evident in our focus towards sustainable manufacturing and establishing a world-class infrastructure for manufacturing of titanium and super alloy materials in India. The construction of our new facility, the Strategic Materials Technology Complex is on track, aligning our progress with our vision for achieving parity.”
The shares were up by 1.91 per cent to ₹7,879 at 2.39 pm on the National Stock Exchange,