Agarwal Industrial Corporation declares Q3FY22 results; check PAT, EPS and other details

Private bitumen player, Agarwal Industrial Corporation Limited has declared its Q3FY22 Results. Agarwal Industrial Corporation Limited in a statement said that it has continued its growth trajectory, closing the third quarter of financial year 2021-22 with a double digit growth in both topline and bottomline.

"On Monday, the company posted a 93.5 per cent jump in the consolidated net profit at Rs 20.61 crore during the third quarter of 2021-22. The company's net profit in the year-ago period stood at Rs 10.65 crore. On a sequential basis it PAT surged 381 per cent  from Rs 4.28 crore, according to a regulatory filing," a release by Agarwal Industrial Corporation Limited said. 

"The company reported a 83 per cent rise in the total revenue to Rs 380.90 crore in the December 2021 quarter, which was Rs 208.16 crore in the same quarter previous year. The company's revenue was 123 per cent higher than Rs 158.95 crore in September 2021 quarter, the filing added," the release added.

The earnings per share (EPS) of the company jumped to Rs 17.00, which was Rs 10.38 in the same quarter previous year, whereas Rs 3.53 in the previous quarter of the current fiscal. 

Commenting on the results, Lalit Agarwal, Whole Time Director, Agarwal Industrial Corporation Limited, said "AICL is consistently progressing on its goal of creating value for its investors through high-value growth. In the December quarter, we have delivered strong and profitable growth in all businesses. We are confident to continuously capture opportunities in a resilient non recession market of bitumen."

Jaiprakash Agarwal, Managing Director, Agarwal Industrial Corporation Limited, said, "Q3FY22 marks yet another robust quarter with strong progress driven by Infrastructure ancillary business. Our endeavor to strengthen our balance sheet and improve business visibility and stability continues."