Kirloskar Industries Ltd (KIL) announced its financial results for the first quarter of FY23, ended June 30, 2022 reporting steady progress. 

Commenting on the Q1 results, Mahesh Chhabria, Managing Director, KIL, said, “This was a steady quarter for Kirloskar Industries Limited. The standalone operations include our windmill business and investment income. The consolidated performance reflects, good performance of our major subsidiary Kirloskar Ferrous Industries Limited (KFIL).”

Chhabria added, “Also, this was the first full quarter of operations for our step-down subsidiary ISMT Ltd (acquired in March 2022 by KFIL). The real estate project, undertaken by Avante Spaces Ltd (ASL) the wholly-owned subsidiary, has progressed as per the plans during the quarter.”

In Q1 FY23 the total income of the company stood at ₹1,514.6 crore against ₹831.9 crore for Q1 FY22. Profit before tax was at ₹127.3 crore against ₹188.9 crore. Profit after tax stood at ₹102.9 crore for Q1 FY23 against ₹141 crore for Q1 FY22.

While reporting the review of Q1 FY23 financial performance (standalone), the company reported total income of ₹8.7 crore against ₹8.3 crore. PBT was at ₹3.5 crore against ₹3.6 crore.