Revenue from operations decreased by 2% YoY to Rs 49.35 crore during the period under review.
Total operating expenses declined by 2% to Rs 43.06 crore in Q3 FY25 over Q3 FY24.
EBITDA fell by 7% to Rs 6.29 crore in Q3 FY25 from Rs 6.80 crore in Q3 FY24. EBITDA margin in Q3 FY25 remained flat at 13%.
Finance cost and depreciation charges for the December’24 quarter were Rs 1.03 crore (up 27% YoY) and Rs 3.17 crore (up 63% YoY), respectively.
Profit before tax in Q3 FY25 stood at Rs 3.15 crore, down by 38% from Rs 5.11 crore in Q3 FY24.
Sharad Taparia, managing director, said: “Demand from the EV segment remains subdued. It is still premature to definitively state whether this segment has conclusively turned around.
Our customers faced reduced demand in the domestic smart meters business resulting in lower business for PML. This contributed to a lower top line in Q3.
A notable recent development, although after Q3 closing, was the licensing agreement with REL Developments Limited, United Kingdom to acquire the know-how and technical information for manufacturing and selling “Latching Relays” within and outside India. This is a strategic development in our meters business segment.”
Permanent Magnets manufactures alnico magnets, magnetic assemblies, hi-permeability magnetic components, and parts and accessories of electricity meters. Its manufacturing facility located at Mira road, Mumbai.