Latest News | Kamdhenu Ltd's Profit Jumps to Rs 5.58 Cr in June Quarter
Get latest articles and stories on Latest News at LatestLY. Kamdhenu Ltd on Monday reported a more than three-fold jump in its consolidated profit after tax to Rs 5.58 crore in the June quarter, mainly on account of higher income.
New Delhi, Aug 9 (PTI) Kamdhenu Ltd on Monday reported a more than three-fold jump in its consolidated profit after tax to Rs 5.58 crore in the June quarter, mainly on account of higher income.
The company had clocked a profit after tax of Rs 1.5 crore in the year-ago period, the company said in a regulatory filing.
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Gurugram-based Kamdhenu, under the franchisee model, has TMT manufacturing plants in various states and is also into making paints.
In the first quarter of the current fiscal, the company's total income rose to Rs 146.79 crore from Rs 84.16 crore in the same period a year ago.
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Its total expenses were at Rs 139.26 crore in the latest June quarter as against Rs 82.22 crore in the year-ago period.
In a statement, Kamdhenu Chairman and Managing Director (CMD) Satish Kumar Agarwal said with drop in COVID cases and the rollout of vaccination drive across the country, there is a gradual pickup in demand from early June.
The second COVID wave impacted the demand on account of localised and micro lockdowns rather than nation wide lockdown like last year. Production was impacted on account of partial operations. However, with easing of restrictions, operations are back at normal levels.
"Despite these external factors, we have reported revenues of Rs 145.9 crore, EBITDA of Rs 11.6 crore and PAT of Rs 5.6 crore for overall business for Q1 FY22. Our capacity utilisation at both plants has been increasing gradually," he said.
Shares of the company closed 3.77 per cent down at Rs 176.30 apiece on BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)