Latest News | Asian Granito Q3 Profit Jumps Two Folds to Rs 25 Cr

New Delhi, Feb 10 (PTI) Ceramic products maker Asian Granito India Ltd (AGIL) on Wednesday reported over two-fold increase in consolidated net profit at Rs 25 crore for December quarter 2020-21 led by sales growth.

The company had posted a net profit of Rs 11 crore in the year-ago period, AGIL said in a BSE filing.

Revenue from operations was up 29.07 per cent at Rs 384.45 crore during the quarter under review as against Rs 297.85 crore in the same period a year ago.

"In the third quarter...the demand of our products across various markets cemented our success as we continued to focus on value addition. The strong result is reflected by our topline growth of 29 per cent. Our popularity has been marked in both urban and rural markets, a trend which has been continuing since the last two quarters," AGIL CMD Kamlesh Patel said.

Total expenses were at Rs 350.20 crore in third quarter 2020-21, up 23.32 per cent from Rs 283.96 crore.

Shares of AGIL on Wednesday settled at Rs 270.25 apiece on BSE, down 0.73 per cent from the previous close.

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