SVP Global Q3 results exceeds expectations, consolidated QoQ PAT up 35%
Jan 22, 2021
Mumbai (Maharashtra) [India], January 22 (ANI/PRNewswire): SVP Global Ventures Limited has declared its unaudited Financial Results for the Quarter and Nine month ended December 31, 2020
* Revenue for Q3FY21 stood at Rs 371 crore as compared to Rs 386 crore in Q3FY20 down by 4 per cent. Revenue for 9MFY21 stood at Rs 826 crore
* EBIDTA for Q3FY21 stood at Rs 76 crore as compared to Rs 49 crore in Q3FY20 an increase of 55 per cent. EBIDTA margin for the quarter stood at 20.6 per cent up by 780 bps Y-o-Y. EBIDTA for 9MFY21 stood at Rs 116 crore with an EBIDTA margin of 14 per cent.
* Operational efficiencies, better product mix and cost rationalization led to considerable increase in margins on a sustainable basis.
* Consolidated PAT for the quarter stood at Rs. 33 crore, an increase of 35 per cent as compared to Q3FY20. PAT margins increased by 260 bps to 9 per cent for Q3FY21 compared to 6.4 per cent for the same period last year.
Commenting on the results and performance for Q3 & 9MFY21, Major General O.P. Gulia, President for SVP Global Ventures Limited, said: The cost rationalization initiatives by the company during the first half of the year coupled with better product mix and operational efficiencies led to a margin expansion of 780 bps as compared to same period last year. The major revolution was brought in by increasing the manufacturing of compact cotton yarn to 84 crore backed by strong order book.
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances.
Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
