Swaraj Engines Q3 PAT up 15% YoY; sells nearly 27k engines

Swaraj Engines reported 15% rise in net profit to Rs 23.23 crore on a 17% increase in net operating revenue to Rs 278.93 crore in Q3 FY23 over Q3 FY22.

Operating profit for the December 2022 quarter was Rs 33.07 crore, higher by 13% as compared with Rs 29.21 crore recorded in the same period last year.

With enhanced level of operations coupled with operational efficiencies, the operating cost, including deprecation, at 10% of net operative revenue remained lower by 120 basis points compared to the corresponding quarter of last year. Profit before tax in Q3 FY23 stood at Rs 31.23 crore, up by 15% from Rs 27.22 crore recorded in Q3 FY22.

Registering a growth of 13%, the engine sales for the Q3 FY23 stood at 26,944 units as against 23,836 units sold during the corresponding quarter of last year.

Swaraj Engines was set up in 1985 in Mohali, Punjab and is primarily engaged in the business of supplying engines to the Swaraj Division of Mahindra & Mahindra (M&M).

The scrip fell 2.65% to currently trade at Rs 1586.85 on the BSE.

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