Kirloskar Industries Ltd on Thursday reported a consolidated loss of Rs 44.20 crore for the quarter ended March 31, 2022.
The company had reported a profit of Rs 133.73 crore in the year-ago period, Kirloskar Industries Ltd (KIL) said in a statement.
Total revenue during the reporting quarter, however, rose 39 per cent to Rs 1,053.67 crore, as compared to Rs 758.10 crore in the fourth quarter of 2020-21.
For the full fiscal ended March 31, 2022, consolidated Profit After Tax stood at Rs 316.2 crore (before other comprehensive income), as against Rs 311.5 crore posted in the financial year ended March 31, 2021, the company said in a statement.
Total Income surged 83 per cent to Rs 3,820.1 crore in FY22, over Rs 2,082.3 crore clocked during the fiscal year ended March 2021, it stated.
“This was a good quarter for Kirloskar Industries Ltd. The standalone business top line grew at 29 per cent as compared to Q4 last year. This was mainly on account of higher dividend income,” said Mahesh Chhabria, Managing Director, KIL, said.
During the quarter the company’s subsidiary Kirloskar Ferrous Industries Limited acquired ISMT Limited to foray into pipe and value added steel products, it stated.
“We are confident of value unlocking through these invested companies. On the real estate side, Avante Spaces Limited is progressing as planned,” Chhabria said. PTI IAS DRR
To stay updated with the Latest Stock Market news, download our app here!
For editorial purposes, contact email@example.com
Start Your Financial Learning Journey
Want to learn Stock Market and other Financial Products? Make sure to check out, FinGrad, the learning initiative by Trade Brains. Click here to Register today to Start your 3-Day FREE Trail. And do not miss out on the Introductory Offer!!