Onward Technologies Revenue Grows by 8.5% QoQ

PBT Grows by 15.5% |Promoters increase the stake by 4.90%

Deepthi | Myequity news | Date : 26-10-2018 17:45:00 IST

Onward Technologies announced its consolidated financial results for quarter  ended on September 30, 2018.

Highlights:

•Consolidated revenues in Q2FY19 reported at INR 68.42 Cr, up 8.5% from INR 63.07 Cr in Q1FY19 & up by 6.6% from INR 64.19 Cr in Q2FY18
•Consolidated EBITDA reported at INR 5.77 Cr for Q2FY19, up 8.5% from INR 5.32 Cr in Q1FY19
•PBT reported at INR 3.70 Cr for Q2FY19, up 15.5% from INR 3.20 Cr in Q1FY19

Commenting on the performance of the Company, Mr. Harish Mehta, Founder & Executive Chairman, said, “Growth and profitability being the focus and the progress we made in first half year, the company has affirmed on its strategy to capitalise the growth opportunities. The company is confident that on the portfolios invested, it will start giving results while servicing clients at its best which is a paramount of importance.”


About Onward Technologies Limited:

Onward Technologies Limited is a global player in Mechanical Engineering Design Services and IT consulting services. The Company offers a range of engineering design services including product design, engineering analysis, engineering documentation and maintenance, and manufacturing solutions for automotive, off highway, aerospace, industrial equipment and consumer goods. With its footprints in India, North America, Germany and UK, the Company’s global design and delivery centres has grown to 2500+ employees servicing Fortune 1000 companies.


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