Mtar Technologies just announced their financial results for the three months from July to September 2023.
Here’s how their business did compared to the same time last year:
- They made 32.2% more money from their operations.
- Their earnings (EBITDA) increased by 3.4%.
- The profit before tax decreased by 22.1%.
- The profit after tax dropped by 17.1%.
Mr. Parvat Srinivas Reddy, explained that they had to change their financial expectations for the whole year. They now think they will make around Rs. 670 Crs to Rs. 700 Crs, which is less than they thought before. This change is because they had to delay sending out some of their orders to the next year. However, he still believes the company will grow in the long run because the areas they work in are growing. They also expect to get more orders in the second half of the year.
| Subscribe To Our Free Newsletter |
