During the December quarter, VA Tech Wabag’s net profit surged to Rs21.71 due on robust revenues from overseas markets
VA Tech Wabag Ltd, India’s largest water treatment company, said its third quarter net profit surged more than two fold on robust revenues from overseas markets.
For the quarter to end-December, VA Tech Wabag said its consolidated net profit grew 116% to Rs21.71 crore from Rs10.04 crore, while its total consolidated revenues grew 66% to Rs589.30 crore from Rs354 crore, a year ago period.
During the December quarter, overseas revenues of water treatment company grew 102% to Rs358.96 crore, which accounts for 60% of its total revenues. Its domestic income grew 36% to Rs176.35 crore.
“Our multi domestic unit (MDU) strategy is paying off. International business managed and operated out of India, have started to contribute to the stellar performance,” Rajiv Mittal, managing director of VA Tech Wabag said in regulatory filing.
At 3. 10pm Monday, VA Tech Wabag Ltd was trading 1.6% down at Rs550 on the BSE, while the 30-share Sensex was flat at 20,354.
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