Visaka Industries has posted a profit of ₹40.58 crore for the first quarter ended June 30, up 18 per cent, against profit of ₹34.42 crore for the corresponding quarter last fiscal.
Total revenue from operations was up 22 per cent at ₹351.17 crore (₹286.74 crore).
The building products, comprising of cement roofing sheets and Vnext fibre cement boards, have continued their strong performance in Q1.
G. Vamsikrishna, Joint Managing Director, said, “The second wave of Covid-19 did disrupt the country’s economy in various pockets. This was visible in consumers discretionary spending. However, Visaka Industries maintained its position and the Building Product segment remained resilient.”
Expansion plans
Owing to the demand of cement roofing sheets, Visaka Industries is expanding and is setting up an additional manufacturing line in Rae Bareli. With a capacity of 1,00,000 tonnes per annum, this unit will take Visaka’s total capacity to 902000 TPA.
The company’s fibre cement boards manufacturing unit near Coimbatore is expected to start operations by December.