Kirloskar Industries reports 97% growth in total income

Our Bureau | | Updated on: Oct 30, 2021

Financial growth chart | Photo Credit: HYWARDS

The company reported net profit at ₹134.7 crore –79 per cent growth y-o-y at the consolidated level

Kirloskar Industries Ltd (KIL) reported good growth for the second quarter of FY 2022 with 97 per cent growth in total income. The company reported net profit at ₹134.7 crore –79 per cent growth y-o-y at the consolidated level for the quarter on the back of strong subsidiary performance.

Commenting on the Q2FY 2022 results, Mahesh Chhabria, Managing Director, KIL, said in a press statement “We are pleased with our Q2FY 2022 performance with 97 per cent growth in total income and 79 per cent growth in net profit at a consolidated level. On the subsidiaries side, KFIL performance reported a strong Q2. The projects undertaken for the real estate subsidiary Avante Spaces Limited are progressing as planned. With this, we are positive about the growth plans we have set the company.”

Reporting the review of Q2 and H1 FY 2021-22 Financial Performance (Consolidated), the Company recorded total Income at ₹992.1 crore for Q2 FY22 vs ₹504.1 crore for Q2 FY21- 97 per cent increase y-o-y. PBT at ₹187.1 crore for Q2 FY22 vs ₹96.6 crore for Q2 FY21 – 94 per cent increase y-o-y.

Company performance

PAT at ₹134.7 crore for Q2 FY22 vs ₹75.1 crore for Q2 FY21; 79 per cent increase y-o-y.

Total Income at ₹1,824.0 crore for H1 FY22 vs ₹726.1 crore for H1 FY21; 151 per cent increase y-o-y.

PBT at ₹375.9 crore for H1 FY22 vs ₹86.4 crore for H1 FY21; 335 per cent increase y-o-y.

PAT* at ₹275.7 crore for H1 FY22 vs ₹59.4 crore for H1 FY21; 364 per cent increase y-o-y.

Review of Q2 FY & H1 2021-22 Financial performance (Standalone):

Total Income at ₹55.5 crore for Q2 FY22 vs ₹17.3 crore for Q2 FY21; 222 per cent increase y-o-y.

PBT at ₹49.5 crore for Q2 FY22 vs ₹11.8 crore for Q2 FY21; 319 per cent increase y-o-y.

PAT* at ₹37.3 crore for Q2 FY22 vs ₹9.6 crore for Q2 FY21; 289 per cent increase y-o-y.

Total Income at ₹63.8 crore for H1 FY22 vs ₹25.6 crore for H1 FY21; 150 per cent increase y-o-y.

PBT at ₹53.1 crore for H1 FY22 vs ₹13.9 crore for H1 FY21; 281 per cent increase y-o-y.

PAT* at ₹40.1 crore for H1 FY22 vs ₹10.9 crore for H1 FY21; 268 per cent increase y-o-y.

*PAT is before Other Comprehensive Income

Published on October 30, 2021
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