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Axis Securities Report
Pitti Engineering Ltd.’s Q1 FY25 revenue reached Rs 383 crore, reflecting a 32.1% YoY and 16.7% QoQ increase, which is broadly in line with expectations. Ebitda exceeded estimates by 16.42%, totalling Rs 60 crore, up 39% YoY but down 24.7% QoQ. The Ebitda decline was anticipated due to the higher concentration of other income in Q4.
Ebitda margin stood at 15.75%, surpassing the estimate of 13.16%, with a 79 basis points YoY improvement and an 867 bps QoQ decline. The company’s profit after tax was Rs 21 crore, up 47.1% YoY but down 49.1% QoQ, beating the estimate by 12.92%.
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