Visaka Industries revenue up by 2 pc to Rs 345 cr in Q1 FY20

Visaka Industries revenue up by 2 pc to Rs 345 cr in Q1 FY20

Agency News

Hyderabad, Aug 12: Visaka Industries Limited, one of India’s leading manufacturers delivering innovative and sustainable products for construction and textile industries globally, on Monday announced its audited financial results for the quarter ended June 30, 2019.

The consolidated revenues of the company grew 2 per cent to Rs 345.68 crore during the quarter ended June 2019 over June 2018 despite challenging economic conditions, a company statement said here.

The company’s innovative Roof top solar product, namely Atum is receiving lots of inquiries and orders are likely flow in the subsequent quarters. The company has already bagged a medium sized order from a Pharma company being set up near Hyderabad with Japanese collaboration.

This product is also expected to contribute handsomely to the company’s growth in the years to come.

Vamsi Gaddam, Joint Managing Director said, “We have achieved positive revenue growth in the first quarter of the year, which was led by our success in delivering innovative and sustainable solutions to the construction space. Our expansion plans are also on track with Rs 100 crore Vnext board plant that will be commissioned in Tamil Nadu increasing our capacity to 2,20,000 MT. We firmly believe that our company’s market position, coupled with the operational efficiency and our vision to create a sustainable world will only drive us towards higher growth. (UNI)