Pumps and valves maker KSB Ltd has reported a 7.75 per cent growth in net profit to ₹43.1 crore for the quarter ended March 31, 2024.

It had clocked a net profit of ₹40 crore in the year-ago period, the company said in a statement on Saturday.

The company follows the January to December financial year.

During the quarter under review, the company's expenses rose to ₹483.3 crore from ₹432.4 crore a year ago.

Sales revenues rose to ₹544.2 crore from ₹489.6 crore.

“This quarter we have registered a steady growth in sales revenue, which is 11.2 per cent higher than that of the corresponding Q1 2023 quarter. Our recent venture into the light water application of the nuclear plant segment highlights our ongoing expansion efforts," Prashant Kumar, Vice-President of Sales and Marketing, KSB, said.

The company has received a letter of award for a project worth Rs 63 crore under the PM-Kusum scheme from the Maharashtra Energy Development Agency for installation of 2,500 solar water pumping systems.

Part of Germany-based KSB Group, KSB Ltd is a leading manufacturer of pumps and valves.