VA TECH WABAG LIMITED, a leading Indian Multinational Company in the water sector announced its financial results for the quarter ended 30th June 2021.
Va Tech WABAG Ltd (WABAG), a leading player in water technology space, reported a strong increase in its consolidated profit after tax (PAT) at ₹15 crore for the quarter ended June 30 when compared to a PAT of ₹5 crore in the same quarter a year ago.
Profit before exceptional items and tax stood at ₹20 crore against ₹7 crore in the corresponding period last year. Consolidated revenue from operations grew 52 per cent to ₹658 crore (against ₹431 crore) on the back of a strong order book.
Its order intake in Q1 of this fiscal was ₹1,448 crore and total order book size was more than ₹10,400 crore including framework contracts, according to a statement put out by the company.
Commenting on the results, Mr. Rajiv Mittal, Managing Director, VA TECH WABAG LIMITED said, “ We have been witnessing continuous improvement in the pace of business activities over the last few quarters as the COVID-19 situation eases and this is the case in Q1 FY 22 as well. The projects have picked up good pace and we are confident of another year of profitable growth in FY 22.
Our order intake has started showing traction and we are very happy with the latest order of 165 M USD secured from Oil & Gas sector in Russia, which is set to be a game changer for WABAG. Going forward, our order pipeline looks strong. ”