Kirloskar Ferrous Industries Ltd Reports 10 % Revenue Growth
Kirloskar Ferrous Industries Limited, one of the leading castings and pig iron manufacturers in India, announced its unaudited financial results for the third quarter ended December 31, 2023. Commenting on the Q3 FY 2024 results, R.V. Gumaste, Managing Director, KFIL, said “This quarter, we achieved a 10% revenue growth over previous quarter despite of the lower realizations on pig iron and slowdown in the tractor industry. With the completion of major maintenance on our MBFs in the last quarter, we have returned to full production capacity from this quarter. All critical projects are on track. Regarding the KFIL ISMT merger, we are in the process of getting approval as per the NCLT orders. We anticipate completing it in accordance with statutory and regulatory requirements.” Operating revenue at INR 968.0 Cr for Q3 FY24 vs INR 879.8 Cr for Q2 FY 24; 10% increase Q-o-Q. EBITDA at INR 126.9 Cr for Q3 FY24 vs INR 132.7 Cr for Q2 FY 24; 4% decrease Q-o-Q. EBITDA* margin at 13% for Q3 FY24 vs 15% Q2 FY24 PBT at INR 70.0 Cr for Q3 FY24 vs INR 75.9 Cr for Q2 FY 24; 8% decrease Q-o-Q.PAT at INR 51.7 Cr for Q3 FY24 vs INR 56.9 Cr for Q2 FY 24; 9% decrease Q-o-Q. Operating revenue at INR 1,548.2 Cr for Q3 FY24 vs INR 1,559.7 Cr for Q2 FY 24; 1% decrease Q-o-Q. EBITDA* at INR 232.0 Cr for Q3 FY24 vs INR 252.3 Cr for Q2 FY 24; 8% decrease Q-o-Q. EBITDA margin at 15% for Q3 FY24 vs 16% Q2 FY24.PBT (before exceptional Item) at INR 147.9 Cr for Q3 FY24 vs INR 169.8 Cr for Q2 FY 24; 13% decrease Q-o-Q.PAT at INR 105.3 Cr for Q NCLT Greenlights J Kumar's Pranav Acquisition. 3 FY24 vs INR 81.7 Cr for Q2 FY 24; 29% increase Q-o-Q
Tags : Kirloskar Ferrous Industries Limited unaudited financial results EBITDA margin R.V. Gumaste KFIL