Prince Pipes and Fittings Ltd posts PAT of Rs. 17.75 crores in Q1FY22

Prince Pipes and Fittings Limited has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.332.8 crores during the period ended June 30, 2021 as compared to Rs.765.84 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.17.75 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.97.22 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.1.61 for the period ended June 30, 2021 as compared to Rs.8.81 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 332.8 crs	₹ 765.84 crs	-56.54%
Net Profit	₹ 17.75 crs	₹ 97.22 crs	-81.74%
EPS	₹ 1.61	₹ 8.81	-81.73%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.332.8 crores during the period ended June 30, 2021 as compared to Rs.307.68 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.17.75 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.11.25 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.1.61 for the period ended June 30, 2021 as compared to Rs.1.02 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 332.8 crs	₹ 307.68 crs	8.16%
Net Profit	₹ 17.75 crs	₹ 11.25 crs	57.78%
EPS	₹ 1.61	₹ 1.02	57.84%

Commenting on the results, Mr. Parag Chheda, Joint Managing Director, Prince Pipes and Fittings Limited, said, "Our performance this quarter has been impacted due to the severe second wave of Covid 19 across the country. Our response has been firmly focused on the wellbeing of our staff, society, our business and on exercising strong cost discipline across operations. This quarter witnessed a steady momentum from the construction and plumbing segments supported by greater in-roads by Prince Flowguard Plus within our growing dealer networks, while the agri segment saw a lag. The industry potential remains robust. Given the continued industry consolidation, our strong business fundamentals, and strategic growth initiatives; we are actively capitalizing on all opportunities to strengthen our leadership position."

Shares of Prince Pipes and Fittings Limited was last trading in BSE at Rs. 701.1 as compared to the previous close of Rs. 693.55. The total number of shares traded during the day was 166857 in over 4313 trades.

The stock hit an intraday high of Rs. 707.95 and intraday low of 690.7. The net turnover during the day was Rs. 116212704.

Source : Equity Bulls

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