Hot Pursuit
Pix Transmissions hit a lower circuit of 20% at Rs 1,451 after the company's consolidated net profit declined 45.13% to Rs 22.24 crore in Q3 FY25 as compared with Rs 40.53 crore in Q2 FY25.
Revenue from operations declined 12.29% QoQ to Rs 139.51 crore in Q3 FY25.
Year on year (YoY) basis, the company's consolidated net profit increased marginally to Rs 22.24 crore in Q3 FY25, up 0.95% as compared with Rs 22.03 crore in Q3 FY24. The company's revenue from operations increased 9.06% YoY to Rs 139.51 crore in Q3 FY25.
Total expenses increased 9.82% to Rs 112.85 crore in Q3 FY25 as compared with Rs 102.76 crore in Q3 FY24. Cost of material consumed stood at Rs 48.28 crore (up 12.86% YoY), employee benefit expenses was at Rs 21.64 crore (up 9.74% YoY) during the period under review.
Meanwhile, the company's board has approved the capital expenditure project for installation of 9.3 MW captive solar power plant at an estimated cost of Rs 30 crore. The said project will be completed within 18 months from grid connectivity approval.
The company's rationale behind the project is to mitigate electricity costs and harness sustainable energy sources, electricity generated at the solar power plant will be utilised towards real time and banking settlement of electricity units consumed at its manufacturing plants located in Nagpur. In addition to the immediate benefits of operational cost-savings, the solar power plant installation underscores commitment to build a sustainable and eco-friendly manufacturing plant.
PIX Transmissions is the leading manufacturer of belts and related mechanical power transmission products in India. The company features belt manufacturing units as well as an ultra-sophisticated, automated rubber mixing facility.
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