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Jagatjit Industries Ltd (JIL), an IMFL manufacturer, reported a 21.90 per cent year-on-year(y-o-y) rise in revenue at ₹368.23 crore in H1 FY24.
In September 2023, the quarterly net profit from continuing operations surged to ₹4.33 crore, an increase from ₹4.20 crore net profit reported in September 2022.
Additionally, the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for H1 FY24 reached ₹25.04 crore, a 58 per cent jump compared to ₹15.85 crore in the year-to-date period ended September 2022, said the company.
Future growth
“This half-yearly performance fortifies our position as industry leaders and is a clear testament to our strategic initiatives, which continue to drive our financial success. With a focus on innovative offerings and expanding our market footprint, we have not only strengthened our financials but also set a precedent for future growth,” said Roshini Sanah Jaiswal, Promoter & Executive Director, Jagatjit Industries Ltd.
Jagatjit moved from a loss of ₹3.13 crore in September 2022 to a profit after tax of ₹7.62 crore in September 2023.
The results underscore the company’s commitment to a robust growth strategy, encompassing key elements which include optimising operational efficiencies, identifying and capitalising on new market opportunities, diversifying the product portfolio, incorporating innovative technologies, recognising opportunities for upgrading to a premium portfolio and setting up a new greenfield project, it said.
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