Noida, August 11, 2017: 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, 2017.
The company reported a healthy increase of 67.51% in its Net Profit to Rs. 5.93 crore for Q1FY18, as compared to Rs. 3.54 crore in the corresponding quarter of last fiscal. The company’s Q1FY18 PAT margin stood at a robust 6.36%, as compared to 3.80% in Q1FY17.
Total Income for the quarter ended June 30, 2017 stood at Rs. 93.31 crore, as compared to Rs. 93.23 crore in the same period last year.
PPAP’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1FY18 stood at Rs. 15.70 crore, up 27.85%. The company’s EBITDA margin improved from 13.17% in Q1FY17 to 16.83% in Q1FY18.
Commenting on the financial performance of the company Mr. Ajay Kumar Jain, the Chairman and Managing Director, PPAP Automotive Limited, said, “Sales have been in line with our expectations. Our ongoing operational initiatives for enhancing our technology and our competitiveness are showing good progress.”