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Construction & Engineering company Skipper announced Q1FY24 results:
- Revenue of Rs 5,546 million in Q1FY24 compared to Rs 4,161 million in Q1FY23, up 33.3% YoY
- Operating EBITDA of Rs 601.4 million in Q1FY24 compared to Rs 358.3 million in Q1FY23, up 67.8% YoY
- Operating EBITDA Margin % of 10.8% in Q1FY24 compared to 8.6% in Q1FY23, up 220 bps YoY
- Profit Before Tax of Rs 233.0 million in Q1FY24 compared to Rs (5.3) million in Q1FY23
- Profit After Tax of Rs 162.6 million in Q1FY24 compared to Rs (6.5) million
Commenting on the release Sharan Bansal, Director Skipper said, “Amidst dynamic market landscapes, our achievements stand as a testament to our unwavering commitment to excellence. The company witnessed a remarkable 33% growth in revenue over the previous year's quarter. Our consistent performance across major business segments has propelled us forward. With an impressive Closing Order Book of Rs 53,720 million in the engineering segment, comprising 76% from the domestic market and 24% from exports; we've cemented our position as a leader in the global Power T& D sector. The Q1FY24 report is a testament to our strategic prowess, as Engineering Segment operating EBITDA margin stands strong at 12.0%. We secured fresh new orders of Rs 12,150 million for engineering product supplies and EPC works from strategic nations including Egypt, Iraq, Bolivia, Australia, Nepal, Finland, and major projects from the Power Grid Corporation Of India.
Mr. Bansal also said, “T&D Domestic ordering displays promising signs of a rebound, while our unwavering momentum in the international market remains a driving force. Our Order Bidding Pipeline stood at Rs 60,000 million in the international arena and an impressive Rs 65,500 million in the domestic sphere. These accomplishments are evidence of our vision and unwavering dedication. Our company stands resolute in its commitment to addressing the world's pressing need for green energy and sustainability. As a leader in our industry, we recognize the pivotal role we play in shaping a cleaner and more sustainable future for generations to come. We remain poised to conquer new milestones and set industry standards, under the visionary leadership of our team."
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