MTAR Tech clocks Rs 46 cr profit in FY21

HYDERABAD: MTAR Technologies Limited, which recently went in for an Initial Public Offering (IPO), on Wednesday said its profit after tax was up by 47 per cent to Rs 46.1 crore in FY21 against Rs 31.3 crore in the year ago period.

In a press release, the city-based firm said revenue from operations stood at Rs.246.40 crore in FY21 as against Rs 213.80 crore in FY20, up by 15 per cent.

Srinivas Reddy, Managing Director for MTAR Technologies Limited, said despite challenges faced due to Covid-19 pandemic during the year gone by, the company has been able to navigate and delivered resilient performance for the year.

As on March 31, 2021, the company’s order book stood at nearly Rs 416 crore.