Kirloskar Oil Engines Limited (KOEL) a leader in the manufacturing of engines, agricultural equipment and generator sets with a sizable presence in international markets, announced today its unaudited financial results for the first quarter June 30, 2023 with standalone revenue at ₹1,265 crore. 

Gauri Kirloskar, Managing Director, KOEL, said “We commenced the year on a positive note at KOEL. We had a record high first quarter, with standalone revenue of ₹1,265 crore. 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”

Kirloskar added, “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, said Kirloskar.

Company reported revenue from operations at ₹1,265 crore for Q1 FY 24 vs ₹953 crore for Q1 FY 23 that is 33 per cent increase y-o-y. The EBITDA was reported at ₹153 crore for Q1 FY 24 vs ₹103 crore for Q1 FY 23 that is 48 per cent increase y-o-y. The EBITDA margin is at 12.1 per cent for Q1 FY 24 vs 10.8 per cent for Q1 FY 23.

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