Punjab Tractors has declared its third quarter results. The company's standalone net sales were up 18.94% at Rs 356.33 crore versus Rs 300.59 crore on YoY basis.
Its standalone net profit was up 38% at Rs 35.03 crore versus Rs 25.40 crore on YoY basis.
Its OPM were at 12% versus 11.55% .
Results Analysis:
Bottomline boosted by use of inventory and subsequent lower raw material costs.
PAT supported by increase in other income to Rs 4 crore versus Rs 1 crore.
Interest Income at Rs. 8.2 crore versus Rs 4.8 crore.
In Q3fy09, saw 8% dip in volumes , were affected due to restructuring exercise undertaken by M&M post the acquisition.
Unit was temporarily shut down for 6-8 days in Dec 2008 on back of slackened demand.
Sold entire stake of 29% in Swaraj Mazda to Sumitomo Corporations. ( 15% was sold in 2005)
