NEW DELHI: Kajaria ceramics Ltd on Friday reported a 60.86 per cent rise in consolidated net profit at Rs 110.82 crore for the second quarter ended September 30, helped by higher revenues and lower costs. The company had posted a consolidated net profit of Rs 68.89 crore in the same quarter last fiscal, Kajaria Ceramics said in a regulatory filing.
Consolidated revenue from operations stood at Rs 1,121.62 crore, compared to Rs 1,077.76 crore in the previous year quarter.
Total expenses were marginally lower at Rs 982.24 crore, compared to Rs 985.16 crore in the corresponding period last fiscal, the company said.
The continued weakness in domestic demand for tiles has had an impact Question 2 FY24 volumes grew by 6 percent, Kajaria Ceramics Chairman and Managing Director Ashok Kajaria said.
A reduction in energy and fuel costs helped improve profitability, he added.
“Looking ahead, we remain steadfast in our commitment to our growth strategy. This strategy includes a continued focus on expanding our reach in smaller cities and introducing innovative products,” Kajaria said.
The company’s board has approved an interim dividend of Rs 6 per share of Re 1 each for the financial year 2023-2024 and will be paid on or before November 18, 2023.
The board also approved an increase in the company’s investment limits Kajaria plywood Pvt Ltd, a wholly owned subsidiary, from Rs 70 crore to Rs 80 crore in one or more tranches by subscribing to shares or granting unsecured loans, subject to compliance with applicable laws.
Consolidated revenue from operations stood at Rs 1,121.62 crore, compared to Rs 1,077.76 crore in the previous year quarter.
Total expenses were marginally lower at Rs 982.24 crore, compared to Rs 985.16 crore in the corresponding period last fiscal, the company said.
The continued weakness in domestic demand for tiles has had an impact Question 2 FY24 volumes grew by 6 percent, Kajaria Ceramics Chairman and Managing Director Ashok Kajaria said.
A reduction in energy and fuel costs helped improve profitability, he added.
“Looking ahead, we remain steadfast in our commitment to our growth strategy. This strategy includes a continued focus on expanding our reach in smaller cities and introducing innovative products,” Kajaria said.
The company’s board has approved an interim dividend of Rs 6 per share of Re 1 each for the financial year 2023-2024 and will be paid on or before November 18, 2023.
The board also approved an increase in the company’s investment limits Kajaria plywood Pvt Ltd, a wholly owned subsidiary, from Rs 70 crore to Rs 80 crore in one or more tranches by subscribing to shares or granting unsecured loans, subject to compliance with applicable laws.
ADVERTISEMENT
