Asian Granito India PAT up 31% in Q1

Asian Granito India one of India’s top four tiles company rise in the standalone net profit at Rs. 3.35 crore for the first quarter.

Aug 12, 2014 08:08 IST India Infoline News Service

Asian Granito India Limited (AGL), one of India’s top four tiles company reported a 31.37% rise in the standalone net profit at Rs. 3.35 crore for the first quarter of FY 2014-15 as against Rs. 2.55 crore in the corresponding quarter of previous fiscal 2013-14. Net sales for the Q1 of FY 2014-15 at Rs. 175.98 crore were higher by 12.21 % over previous fiscal’s same quarter sales Rs. 156.82 crore. Earnings per share for Q1 of FY 2014-15 stood at Rs. 1.48 per share (on face value of Rs.10 each).

During the quarter company introduced the world’s whitest tile collection Carrara White Double Charged Vitrified Tiles (in the unglazed larger format). AGL also became the first Indian ceramic tiles manufacturer to take the launch of its nationwide AD campaign - ‘Sapne Huye Apne’ to movie halls pan-India. Company launched its mega nationwide advertising campaign ‘Sapne Huye Apne’ in as many as 606 movie screens in the most premium cinema chains all over the country including PVR, INOX, Big Cinemas, Cinépolis and Fun Cinemas.

Commenting on the financial performance of the company, Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd said, “The growth is on account of buoyancy and strong performance across all business verticals. In spite of a slowdown in the Indian tiles industry, we have grown due to continuous innovations in products and aggressive marketing across the country. This year is the year of growth for us and the market will see lot of developments from the company.”

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