Suprajit Engineering, light duty control cable and automotive halogen bulb manufacturer net revenues went up 45 per cent YoY to ₹716 crore in the second quarter of FY 23 compared to ₹493.66 crore in the same quarter last year.
The company’s net profits for Q2 were ₹45.74 crore, a drop of 7.68 per cent YoY compared to ₹49.55 crore in the same quarter last year.
According to Suprajit, global slowdown concerns, inflationary and recessionary trends, the Ukraine war, and China Covid concerns, are more, have impacted global operations in the US, Europe, and China. Additionally, though the pressure of higher commodity prices and chip shortages have eased but continues to be a concern for the company.
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“Our portfolio in automotive electronics has started to pick up, and we have set up an assembly line in our new manufacturing facility for electronic products to produce actuators for charging flaps and electronic control. Moreover, we continue to focus on the greenhouse solution to the industry with a clear focus on two-wheeler non-automotive segments. These products will be made available to customers both in India and globally,” said Ajith Rai, founder, and chairman, Suprajit Group.
The earnings per share for this quarter was ₹3.31 compared to ₹3.58 compared in Q2 FY22.
The company operates businesses including domestic cable division (DCD), Suprajit Automotive (SAL) and Suprajit Europe (SEU), Suprajit Engineering Non‐Automotive (SENA) Division, Phoenix Lamps Division (PLD), Light Duty Cable (Ldc) Division, Shanghai Lonestar – China, Suprajit – Hungary (Siofok), Suprajit – Mexico (Matamoros), And Suprajit Technology Centre (Stc) And Electronics Facility.
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Published on November 15, 2022
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