Pritika Auto Industries Sees Profit Surge Amid Market Cyclicality

Tractor component maker Pritika Auto Industries reported a profit of Rs 10.58 crore for the September quarter. Despite a decline in total income due to a prior demerger, the company surpassed its year-ago net profit of Rs 4.75 crore, aligning its performance with market expectations.

Pritika Auto Industries, a prominent manufacturer of tractor components, announced on Wednesday that it secured a profit of Rs 10.58 crore for the September quarter.

In the previous year, the company recorded a net profit of Rs 4.75 crore during the same period, as stated by the company.

The firm's total income was reported at Rs 85.77 crore, a decrease from the Rs 93.70 crore recorded the previous year. This variation is attributed to the demerger of a manufacturing unit from Pritika Industries Ltd and its subsequent merger with Pritika Auto Industries Ltd.

Harpreet Singh Nibber, Chairman & Managing Director, noted that the performance was expected given the cyclical nature of market conditions.

(With inputs from agencies.)