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Mold-Tek PAT up 453% in Q3
Mold-Tek PAT up 453% in Q3
Mold-Tek Technologies Limited on Monday said its profit after tax for the quarter ended December 31 was up by 453 per cent to Rs 9.21 crore against Rs 1.7 crore during Q3FY22
Hyderabad: Mold-Tek Technologies Limited on Monday said its profit after tax for the quarter ended December 31 was up by 453 per cent to Rs 9.21 crore against Rs 1.7 crore during Q3FY22. The city-based firm in a press release said revenues during the quarter were up by 71 per cent to Rs 40.73 crore. The stellar performance of the company's civil and mechanical divisions in Q3 led to jump in revenues and multifold increase in profitability. It is also in the lookout for acquisitions in the field of connection design, structural designing engineering and mechanical engineering to expand its operations in US.
Mold-Tek established engineering services capabilities for electric vehicles by executing BIW orders for an EV manufacturer in 2019-20. This experience is now very helpful in presenting the company as the experienced design house for automobile tier 1 and tier 2 companies in Europe and North America.
With the boom in EV automobiles and launching of several new models, the future looks very bright for our mechanical division.
