pTron Boosts Palred Tech’s Q2 Revenue By 53 Percent At INR 72 Cr

Revenue jumps two-fold on the back of new launches and spike in demand during the festive season

Hyderabad (India): Palred Technologies Limited, a Technology Solutions player across Consumer Electronics, eCommerce, and IT Solutions industries, announced its financial results for the first half for FY 2021-2022.

Financial Highlights:

Consolidated Revenue at INR 74.72 Cr for the first half; growth of 36% YoY
Consolidated Revenue at INR 47.55 Cr for the quarter; growth of 19% YoY
Revenue generated by pTron brand stood at INR 72.58 Cr in first half of FY 2021-22, compared to INR 47.36 Cr in first half of FY20-21

Palred Technologies continued its growth momentum and posted strong first half-yearly financial results at 74.72 Cr, beating the industry estimates. The flagship brand pTron, a subsidiary of Palred Technologies, boosted the company’s revenue by registering record sales, from 12.93 Lacs units sold in H1 FY21 to 21.63 Lacs units sold in H1 FY22, witnessing over 67% growth. pTron’s Bluetooth Headsets and TWS (True Wireless Stereo) have been the main driving force and stood forefront in the category, registering sales to the scale of 5.13 lac units and 5.96 lac units respectively.

pTron has witnessed a massive growth in business since the beginning of 2019. It has penetrated into the Indian Consumer Electronics industry at a rapid speed by introducing a slew of products, especially smart accessories which has seen a major demand from the consumers. With innovation being at the core of its business, pTron became the first homegrown brand to launch Made in India Truly Wireless (TWS) earphones. Basis an aggressive business and marketing strategy and making its brand presence across tier-I & tier-II markets, pTron has signed endorsement deals with Bollywood celebrities like Aparshakti Khurana and Pooja Hegde. In August 2019, driving on the principles of Make in India, the company also announced the setting up of assembly unit in Kurnool, Andhra Pradesh where it assembles the key products - TWS & Power banks.

Recent investment from ace investor Mathew Cyriac, former Blackstone partner & co-head of India PE, marks the growth potential of the company and further enables to expand its market presence.

Commenting on the results, Mr. Harish Naidu, CFO, Palred Technologies Limited said, “As a part of our growth strategy, we are focusing on the new age technologies and continue to develop new products under pTron, which drives the overall revenue of the company. Recent investment into the company has boosted shareholders’ confidence and we will take considerable steps to maintain the growth momentum in the years to come”

Mr. Ameen Khwaja, Founder & CEO, pTron said, “In the fast-paced economy, as consumer preferences are changing rapidly, we are proud to adapt, innovate and develop products that stood as consumer choice. As we continue to hold our leadership position year on year basis, our focus on R&D will uphold a critical role in designing products that are not just superior in quality but economical for consumers.”