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Our Bureau

Pune, April 23 Kirloskar Brothers Ltd (KBL), the water management solutions company, has recorded a decline in profit before tax for the year ended March 2008. The company has registered profit before tax of Rs 150 crore (Rs 375 crore).

The decrease in profit is attributed to the higher interest cost and a one-time income profit of Rs 180 crore on sale of investments, which was added in the net profit of last year. However, the company has touched a turnover of Rs 1,525.10 crore for the year ended March 2008 (1,340 crore), posting a 15 per cent increase. KBL consolidated net sales for the year 2008 are at Rs 2,058 crore, an increase of Rs 267 crore from the last year figure of Rs 1,781 crore, an official release said.

It added that a few projects are near completion, and the realisation from them will reflect in the first six months of the next fiscal year. KBL also has a order book of over Rs 4,000 crore, it said.

For the last quarter of the year (January – March 2008), the company recorded a net sales of Rs 569 crore (Rs 449 crore) and posted a profit before tax of Rs 74 crore.

Commenting on the results Mr Sanjay Kirloskar, Chairman & Managing Director, said, “Power and water are the two main segments, which are going to drive the global pump market, and KBL is among the top 15 pump companies in the world. Our transformation as a total water management solutions provider will enable us to capitalise on opportunities in a developing country like India”, he said.

During the year, it had commissioned the Rs 124 crore pumping systems project for J. Chokka Rao Devadulla lift-irrigation in Andhra Pradesh. This is the world’s second highest lift amongst irrigation schemes. For this, it has utilised 15 MW less energy than the global competitors.

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