Orient Bells PAT jumped by 60.7% YoY for Q3 FY22; stock zooms near 16%

28 Jan 2022 , 12:45 PM

Orient Bells Ltd. announced its financial results for the quarter ending December 2021. Orient Bells is a leading manufacturer of ceramic and vitrified tiles having a capacity of 31 million square per annum.

The company stated that Q3 was a challenging quarter in terms of increased manufacturing costs on the back of a slowdown in demand post-Diwali. The company remained focused on its strategy and strengthened sales & distribution infrastructure. With the company’s primary focus on fundamental benefits & improved execution, it was able to pass on 100% of the cost escalation to the customer.

The company’s revenue grew by 25% YoY for Q3 FY’22 at Rs 184 crore against Rs 147.90 crore for Q3 FY’21.

It reported an EBITDA of Rs 19.90 crore for the quarter ending December 2021 as against Rs 15.70 crore, registering a growth of 26.8% YoY.

Its PAT grew by 60.7% YoY at Rs 12.10 crore for Q3 FY’22 against Rs 7.50 crore for Q3 FY’21.

The company’s revenue for the 9M period ending December 2021 stood at Rs 438.40 crore against Rs 321 crore for the previous corresponding period, reflecting a growth of 36.6% YoY. While EBITDA for 9M period ending December 2021 stood at Rs 32.10 crore as against Rs 17.5 crore for 9M ending December 2020, up by 83.4% YoY.

Orient Bell Ltd is currently trading at Rs440 up by Rs58.8 or 15.42% from its previous closing of Rs381.20 on the BSE.