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27 Years
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Industrial Products company Kirloskar Industries announced Q4FY24 & FY24 results:
Standalone Financial Highlights:
- Total Income at Rs 40.65 crore for Q4FY24 vs Rs 39.82 crore for Q4FY23; 2.08 % increase YoY
- PAT at Rs 22.23 crore for Q4FY24 vs Rs 25.08 crore for Q4FY23; 11.36 % decrease YoY
- Total Income at Rs 133.51 crore for FY24 vs Rs 114.99 crore for FY23; 16.10 % increase YoY
- PAT at Rs Rs 74.64 crore for FY24 vs Rs 74.12 crore for FY23; 0.70 % increase YoY
Consolidated Financial Highlights:
- Total Income at Rs 1,736.44 crore for Q4FY24 vs Rs 1,591.51 crore for Q4FY23; 9.11 % increase YoY
- PAT at Rs 70.99 crore for Q4FY24 vs Rs 93.19 crore for Q4FY23; 23.82 % decrease YoY
- Total Income at Rs 6,411.65 crore for FY24 vs Rs 6,532.65 crore for FY23; 1.85 % decrease YoY
- PAT at Rs 360.73 crore for FY24 vs Rs 459.57 crore for FY23; 21.50 % decrease YoY
Commenting on the Q4 and full year results, Mahesh Chhabria, Managing Director, KIL, said "We are delighted to announce our fourth quarter and full year results. This quarter marks a significant milestone as Avante Spaces Limited (ASL) our 100% subsidiary in Real Estate business has recognized revenue from its first project “One Avante” in Kothrud, which is now reflected in our consolidated performance. ASL is now focused on executing the second project on time despite challenges in labor market and approval delays. Due to the challenges faced by our subsidiary Kirloskar Ferrous Industries Ltd. (KFIL), on account of subdued demand in the tractor industry and lower Pig Iron realization, we saw a dip of ~1.5% in our consolidated revenue from operations. Additionally, the KFIL-ISMT merger is progressing well and is expected to be completed soon."
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