Latest News | Kamdhenu Q3 Net Rises 7 Pc to Rs 7.68 Cr
Get latest articles and stories on Latest News at LatestLY. Building materials maker Kamdhenu Limited on Wednesday posted a jump of around 7 per cent in its consolidated net profit to Rs 7.68 crore for the quarter ended December 31, helped by higher income.
New Delhi, Feb 2 (PTI) Building materials maker Kamdhenu Limited on Wednesday posted a jump of around 7 per cent in its consolidated net profit to Rs 7.68 crore for the quarter ended December 31, helped by higher income.
The company had reported a consolidated net profit of Rs 7.18 crore in the quarter ended December 2020, it said in a regulatory filing.
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Total income of the company rose to Rs 226.88 crore in the quarter, from Rs 184.86 crore in year-ago period. Total expenses also increased to Rs 216.93 crore, as against Rs 175.23 crore earlier.
Gurugram-based Kamdhenu is into manufacturing of high-grade TMT bars and paints.
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In a separate statement, the company said its steel business contributed 65.8 per cent to revenues in the third quarter of the ongoing fiscal, while the paint business accounted for 34.2 per cent.
Satish Kumar Agarwal, Chairman and Managing Director (CMD), Kamdhenu Group, said despite the ongoing third wave of COVID-19, the company has delivered positive numbers. The company did not witness any material impact on its business.
"Demand for our products have remained strong during the quarter driven by festive season. Demand for decorative paints has been witnessing strong traction over past few quarters and we expect this momentum to continue on back of shortening of repainting cycle, housing demand and consumer preference to build pucca houses," he said.
The company expects good demand for TMT in the coming months, he said adding Kamdhenu has plans to enhance the annual steel TMT capacity from 38 lakh tonnes to 50 lakh tonnes through franchisee route in next two years.
(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)