Q1 FY25 Results: Servotech’s Revenue Grows 41% To Rs. 11,244L

Servotech Q1 Results- Revenue Grows 41% To Rs. 11,244 Lacs

By Saur News Bureau/ Updated On Thu, Aug 1st, 2024

Highlights :

In its financial highlights, Servotech reported a growth in consolidated total revenue by 41% in Q1 FY25, rising to Rs. 11,243.92 lacs from Rs. 7,981.35 lacs in Q1 FY24.
The company’s EBITDA increased by 20%, from Rs.712.89 lacs in Q1 FY24 to Rs.853.74 lacs in Q1 FY25.

Servotech Q1 Results- Revenue Grows 41% To Rs. 11,244 Lacs

Servotech Power Systems Ltd., a manufacturer of Electric Vehicle (EV) chargers, solar solutions, and power backup systems, has announced its financial performance for the quarter ended June 30, 2024 (Q1 Fy25)

In its financial highlights, Servotech reported a strong YoY growth in consolidated total revenue by 41% in Q1 FY25, rising to Rs. 11,243.92 lacs from Rs. 7,981.35 lacs in Q1 FY24. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 20%, from Rs.712.89 lacs in Q1 FY24 to Rs.853.74 lacs in Q1 FY25.

Servotech’s gross profit also rose by 29%, from Rs.1,577.52 lacs in Q1 FY24 to Rs.2,038.34 lacs in Q1 FY25. The company’s Profit Before Tax (PBT) stood at Rs.614.47 lacs in Q1 FY25, compared to Rs. 549.14 lacs in Q1 FY24, reflecting a growth of 12%. The net profit after tax (PAT) was Rs.448.94 lacs in Q1 FY25, up from Rs.410.97 lacs in Q1 FY24, marking a growth of 9%.

Servotech’s quarterly results showed significant growth in standalone performance as follows:

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Total Revenue grew by 43% in Q1 FY25, reaching Rs. 9,775.48 lacs, up from Rs. 6,838.98 lacs in Q1 FY24.
EBITDA increased by 25%, from Rs. 696.60 lacs in Q1 FY24 to Rs.869.66 lacs in Q1 FY25.
Gross Profit rose by 35%, from s. 1,439.27 lacs in Q1 FY24 to Rs.1,940.26 lacs in Q1 FY25.
PBT was Rs.630.44 lacs in Q1 FY25, compared to Rs.538.39 lacs in Q1 FY24, showing a growth of 17%.
Net PAT stood at Rs. 474.33 lacs in Q1 FY25, up from Rs. 402.93 lacs in Q1 FY24, reflecting an 18% growth.

Commenting on the results, Raman Bhatia, Founder and Managing Director of Servotech Power Systems Ltd., said, “We are expanding our sales and marketing efforts. With the Safiabad plant set to become fully operational soon, we will significantly increase our production capacity to meet the growing demand for our products.”

The firm has shown a special ability to tie-up with public sector firms for large volume deals, that has helped it scale installations faster than the market rate.