Pricol turns a profit of ₹14.60 cr in FY21

Automotive component manufacturer Pricol registered a profit of ₹14.6 crore for FY21 as against a loss of ₹ 212.9 crore in FY20.

According to a company statement, total income stood rose to ₹1,397.8 crore from ₹1,213 crore. Revenue from operations was ₹1,336.2 crore (₹1,139.1 crore).

The first wave of COVID-19 and the subsequent lockdown had a major impact on the company’s performance in the first quarter of last fiscal, said Vikram Mohan, MD.

While the company bounced back strongly, commodity prices had an impact in the fourth quarter. But, Pricol is bullish about the long-term prospects as it had invested heavily in technology and capacity building in the previous years, he added. Its thrust on exports had helped it introduce new products and increase its market share, he said.

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