Credit rating agency, Crisil has reaffirmed AA/Stable rating to Cash Credit of Praj Industries. The rating agency has also reaffirmed A1+ rating to the company’s letter of credit and bank guarantee. Further, the rating agency has reaffirmed AA/Stable rating to proposed long term bank loan facilities of the company.
The company posted a 57.39% surge in its net profit of Rs 21.50 crore for the quarter ended December 31, 2011 as compared to Rs 13.66 crore for the same quarter in the previous year. Income from operations has increased by 47.73% to Rs 219 crore for quarter under review from Rs 148.24 crore for the corresponding quarter of the preceding year.
Praj Industries is a Process Engineering and Technology Company offering innovative end-to-end solutions for biofuels, brewery, industrial processes and water and wastewater treatment systems.
