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Praj Industries profit more than triples in September quarter

Praj Industries today reported a consolidated net profit of ₹crore for the second quarter ended September 2021. The profit after tax (PAT) more than tripled to ₹33.33 crore from just ₹11.39 crore in the last year period.

Revenue from operations more than doubled during the quarter to ₹532 crore as against ₹260 crore in the year-ago period.

On Wednesday, Praj Industries shares rose 5% to close at ₹338.25 on NSE. Since the start of 2021, the scrip has given multibagger returns to investors with a rise of 181.52%. The stock rose by a massive 333% in last one year.

The stock was trading from ₹68 level in August 2020 to now currently trading at around ₹337 per share.

Praj Industries is engaged in the domestic distillery and brewery installation business. Headquartered in Pune, the company is a supplier of ethanol plants and is a globally leading company with a bouquet of sustainable solutions for bioenergy, high purity water, critical process equipment, breweries and industrial wastewater treatment. The company continues gaining prominence with government focus on increasing ethanol production.

Analysts see the company to benefit more going forward on the ethanol opportunities and leadership in biofuel technology along with a strong order pipeline.

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