Kajaria Ceramics PAT turns around to Rs43.06cr in Q1FY22; board approves investment for solar power captive consumption

The company’s sales rose 102.36% to Rs561.66cr in the quarter ended June 2021 as against Rs277.56cr during the previous quarter ended June 2020.

Aug 04, 2021 04:08 IST India Infoline News Service

Kajaria Ceramics
Kajaria Ceramics recorded a net profit of Rs43.06cr in the quarter ended June 2021 as against a net loss of Rs27.10cr during the previous quarter ended June 2020.

The company’s sales rose 102.36% to Rs561.66cr in the quarter ended June 2021 as against Rs277.56cr during the previous quarter ended June 2020.

The stock ended at Rs1,025.30 down by Rs2.1 or 0.2% from its previous closing of Rs1,027.40 on the BSE. The scrip opened at Rs1,030 and has touched a high and low of Rs1,052.40 and Rs1,003 respectively.

“Our performance this quarter shows a significant uptick on a YoY basis, in spite of covid restrictions and lockdowns continuing in several states. On a QoQ basis, our revenue, profit and EBITDA margins are muted given the unexpected disruption from the second wave, but we see a secular turnaround of demand and key financial metrics starting July. Even as we set forth towards a post-covid world, the wellbeing of our Kajaria family remains our primary focus. We recognize the resilience and support of all our customers, investors and employees through the pandemic and are incredibly excited to partner with you on the tremendous growth opportunities ahead of us,” Chairman said.

Further, the Board has accorded its approval for making investment upto Rs2.64cr in the equity shares of an entity (i.e. Special Purpose Vehicle), to be formed by CleanMax Enviro Energy Solutions for solar power captive consumption as required under the provisions of Electricity Act, 2003, at par value, subject to applicable laws and authorised the Management Committee of the Board of Directors of the Company for taking all necessary actions regarding the above said investment.

Related Story

Open Free Demat Account (Rs699)