Skip to main content

*Palred Technologies registers a growth of 151% YoY, Reports profits in Q1 FY21 led by lifestyle electronics brand pTron*

● Growth led by Consumers Electronics Brand – pTron; Brand witnesses extraordinary demand for the products with Work From Home gaining prominence    



Hyderabad, September 1, 2020: Palred Technologies Limited, a technology solutions player in Consumer Electronics, eCommerce, and Information Technology has announced its financial results for the quarter April to June 2020.


 


Financial Highlights


– Consolidated revenue at INR 14.62 Cr; Growth of 151.45% (YoY) and degrowth of 12.89% (QoQ), de-growth due to COVID-19 lockdown for the first 45 days of the quarter


– Profit After Tax stood at INR 45.62 Lacs for the quarter; compared to a loss of INR 1.28 Crores in Q1 FY 20


– Revenue generated by pTron brand stood at INR 12.80 Crores in the quarter hit by COVID-19 induced lockdown; Sales were allowed for only 45 days in the quarter still resulting in high sales and profitability 


– EBIT at INR 52.53 lacs against loss of INR 1.84 Cr in Q1 FY 2020 



Growth of pTron; increasing contribution in company revenues  


 


The company offers a wide range of 250+ SKUs spread across the audio, mobile accessories and smart wearables category witnessed sales of 2.67 Lac pieces in just 45 days of sales period in April to June 2020 quarter. The company clocked sales of 5.68 lac pieces (an average of over 9,100 per day) in July and August 2020 up from 3,531 per day in Jan to March 2020 quarter. The company has launched a number of ultra-modern and innovative products for the price-sensitive Indian consumer. The company’s Bassbuds series of TWS (True Wireless Stereo) earbuds has been receiving a high demand leading to increased revenues for the company. The brand is currently operating in the US, Canada, China, Indonesia, Israel in addition to India. The brand has recently signed Mr. Aparshakti Khurana, Bollywood actor to endorse its new range of audio accessories resulting in increasing interest from the consumers.


 


Commenting on the results Mr. Harish Naidu, CFO, Palred Technologies Limited said, “Despite the industry shut down for more than half of the quarter, the company worked efficiently and registered an extraordinary performance. The revenues have witnessed an upward growth due to timely action and our strong Business Continuity Plan. Our brand pTron has proved to be the major growth driver for the Palred Group. We were also able to reduce our expenses adding to the profitability.”


 


 


 


“We are working relentlessly to expand the market share of pTron supported by a strong R&D and product design team. In our journey, we have created a position for ourselves with a strong product portfolio and highly affordable pricing ensuring a quality product. We are all set to sell 3.5 million units in FY 21 and 8 million units in FY 22 led by the Audio & Wireless category and deliver a boost to the profits of our online business. We are one of the few players registered under all 3 under significant international authorities - BIS (India), FCC (US), and CE (Europe) permitted to sell our products in these geographies. We are also exploring to start manufacturing some of our products in India in the coming months”, said Mr. Ameen Khwaja, Founder & CEO, pTron.


 


About pTron:


Started in 2014, pTron was conceptualized as an electronics and mobile accessories brand owned by Palred Electronics Pvt. Ltd., which is a subsidiary of Palred Technologies Ltd, a public-listed company on BSE and NSE since 2004.


 


pTron offers a bouquet of mobile accessories products to meet the needs of its consumers. pTron offers products like Bluetooth headsets, portable Bluetooth speakers, wired headsets, chargers and cables, smartwatches, networking products, and many more. pTron’s strength lies in its wide range of products whose quality is backed by warranty but offers them at competitive prices in the branded accessories category for the mid-market. pTron has sold more than 4 Million units till FY 19-20.


Popular posts from this blog

छतरपुर जिला चिकित्सालय को मिलेअत्याधुनिक जांच उपकरण एस्सेल माइनिंग द्वारा सी-आर्म, रक्त जांच एवं अन्य उपकरण दान

 छतरपुर की स्वास्थ्य अधोसंरचना को मजबूत बनाने के ध्येय को आगे बढ़ाते हुए एस्सेल माइनिंग द्वारा शुक्रवार को छतरपुर जिला चिकित्सालय में अत्याधुनिक सी-आर्म इमेजिंग डिवाइस, हाई फ़्लो नैज़ल कैनुला समेत त्वरित रक्त जांच उपकरण एवं मोरचुरी फ्रीजर भेंट किया गया।  जिला कलेक्टर श्री संदीप जी आर ने फीता काटकर नई सुविधाओं का शुभारंभ किया। इस अवसर पर मुख्य चिकित्सा एवं स्वास्थ्य अधिकारी डॉ विजय पथोरिया एवं अस्पताल के अन्य अधिकारी-कर्मचारी उपस्थित रहे। नए उपकरणों के साथ छतरपुर जिला चिकित्सालय के सुविधाओं में वृद्धि होने के साथ ही हजारों नागरिकों को नई जाँचों का लाभ मिल सकेगा और त्वरित जांच प्राप्त हो सकेगी।कलेक्टर श्री श्री संदीप जी आर द्वारा इस अवसर पर अस्पताल परिसर में पौधा रोपण भी किया गया।  एस्सेल माइनिंग द्वारा लगातार छतरपुर जिले की स्वास्थ्य सेवाओं को उन्नत बनाने में सतत योगदान दिया जा रहा है। पूर्व में गुरुवार को कंपनी द्वारा बक्सवाहा के सामुदायिक स्वास्थ्य केंद्र को बड़ा मलहरा विधायक श्री प्रद्युम्न सिंह लोधी की उपस्थिति में एडवांस्ड लाइफ सपोर्ट एम्बुलेंस भेंट की गई। वेंटीलेटर जैसी सुविधाओं के सा

*Reusable pads essential to make menstrual hygiene sustainable for all women and girls*

 If every woman and girl of menstruating age in India used disposable pads, 38,500,000,000 used pads would be discarded every month – an environmental disaster since each of these would take 500-800 years to degrade naturally XXX / May 26, 2021: Considering the immense non-biodegradable waste generated by disposable sanitary pads every month, sustainable menstrual hygiene in India can be achieved only with reusable pads made of organic material, said Anju Bist, Co-Director, Amrita SeRVe (Self Reliant Village) Program of Mata Amritanandamayi Math. Known as the “Pad Woman” of India for her zeal in promoting the use and reuse of sanitary pads made of cloth and banana fibre, she is the co-creator of Saukhyam Reusable Pads which have been awarded as the "Most Innovative Product" by the National Institute of Rural Development, Hyderabad. The pads were also lauded at the UN Climate Change Conference held in Poland in 2018. Said Anju Bist: “There are 355 million menstruating women an

*GLENEAGLES GLOBAL HEALTH CITY PERFORMS WORLD’S SECOND SUCCESSFUL PEDIATRIC COMBINED LIVING DONOR LIVER AND KIDNEY TRANSPLANT FOR A RARE GENETIC LIVER DISORDER*

 12-year-old boy with rare liver disease undergoes successful multi-organ transplant making him the 2nd case in the world and 1st in the country Chennai, 7th December, 2021: Gleneagles Global Health City (GGHC), a leading multi-organ transplant centre in Asia, successfully performed India’s first live donor liver and kidney transplant on a 12-year-old who was suffering from a rare genetic disorder – Primary Hyperoxaluria type 2. Master Anish*, a 12-year-old, was referred from Bangalore with renal failure and had been on dialysis three times a week. Doctors in Bangalore had diagnosed him with a rare genetic disorder called Primary Hyperoxaluria (PH) type- II, which is a liver condition that results in accumulation of oxalate in the kidneys, heart and bones and other organ systems of the body. As the disease is primarily based in the liver, these patients need combined liver and kidney transplantation for cure which is a major undertaking, especially in a child.  Across the world, there