Kirloskar Oil Engines Results: Profit rises 53% to Rs 126 crore in Q1
The company has entered the high horse power (HHP) range, with the introduction of its OptiPrime range, designed with a focus on segments such as data centres and infrastructure, Kirloskar added.
Kirloskar Oil Engines Q1 Results: Kirloskar Oil Engines Limited (KOEL), leading manufacturer of engines, agricultural equipment, and generator sets, on Thursday reported a 53 per cent jump in consolidated net profit to Rs 126 crore in the June quarter. The company said in its release that it had delivered a consolidated net profit of Rs 82 crore in the year-ago period.
Revenue for the first quarter of the current fiscal was Rs 1,543 crore compared to Rs 1,191 crore last year, registering a 30 per cent increase, it said.
Commenting on the results, KOEL's Managing Director Gauri Kirloskar said, “We commenced the year on a positive note at KOEL. We had a record high first quarter, with standalone revenue of Rs 1,265 crores. EBITDA margin was at 12.1 per cent. Across the spectrum of KOEL's Powergen products, we have successfully secured CPCB IV+ emission norms certification, making us the first company in India to achieve comprehensive certification for our entire range. This quarter witnessed substantial advancements in our B2B product lineup, marked by noteworthy product introductions and range expansions."
"We are excited to enter the HHP range, with the introduction of our OptiPrime range designed with a strong focus on segments such as Data Centres and Infrastructure. OptiPrime is designed to address fluctuating power requirements of our customers by offering enhanced flexibility and lowering emissions. Meanwhile, on the B2C front (at a consolidated level) we continue to make improvements in profitability. This quarter we delivered a 15 per cent growth in profit on a 4 per cent growth in topline," she added.
The company has entered the high horse power (HHP) range, with the introduction of its OptiPrime range, designed with a focus on segments such as data centres and infrastructure, Kirloskar added.
The company has secured Central Pollution Control Board IV+ emission norms certification for its powergen products, making it the first company in India to achieve comprehensive certification for its entire range, she said.
Review of Q1 FY 24 Financial Performance (Standalone):
- Revenue from operations at Rs 1,265 crore for Q1 FY 24 vs Rs 953 crore for Q1 FY 23; 33 per cent increase YoY
- EBITDA at Rs 153 crore for Q1 FY 24 vs Rs 103 crore for Q1 FY 23; 48 per cent increase YoY
- EBITDA margin at 12.1 per cent for Q1 FY 24 vs 10.8 per cent for Q1 FY 23
- Net profit at Rs 103 for Q1 FY 24 vs Rs 65 crore for Q1 FY 23; 60 per cent increase YoY
- Net cash position of Rs 300 crore (net of debt; includes treasury investments and excludes unclaimed dividends).
Review of Q1 FY 24 Financial Performance (Consolidated):
- Revenue from operation at Rs 1,543 crore for Q1 FY 24 vs Rs 1,191 crore for Q1 FY 23; 30 per cent increase YoY
- Net Profit at Rs 126 crore for Q1 FY 24 vs Rs 82 crore for Q1 FY 23; 53 per cent increase YoY
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Stocks To Buy For 2 Weeks: Axis Direct recommends buying these stocks for 5-15 day; check targets, stop losses
Gold now down nearly Rs 6200/10 gm from all-time highs hit in October end: Should you wait or bet on opportunity?
Exclusive: Sebi reviews authorised person regulations; discusses minimum qualification, NISM certification and deposit amount criteria
Top 5 mid cap mutual funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
11:11 PM IST