KIL reports the third quarter of FY 2024, with consolidated net profit at INR 105 crore for the quarter

Kirloskar Industries Ltd (KIL) (BSE: 500243; NSE: KIRLOSIND), announced today its financial results for the third quarter FY 24, which ended December 31, 2023.

Commenting on the Q3 and 9 Mo results, Mr. Mahesh Chhabria, Managing Director, KIL, said "We are pleased to announce the third quarter results - our subsidiary, KFIL, performed well despite of the headwinds in the input commodity prices and slowdown in the tractor industry. KFIL-ISMT merger is on course, and we anticipate the completion in accordance with the statutory timelines. Avante's projects are advancing according to schedule, with the first project, 'One Avante,' nearing completion, revenue recognition will follow in due course."

Review of Q3 FY & 9 Mo 2023-24 Financial Performance (Standalone):

- Total Income at INR 14.6 Cr for Q3 FY24 vs INR 12.1 Cr for Q3 FY23; 21% increase Y-o-Y
- PAT* at INR 4.9 Cr for Q3 FY24 vs INR 4.9 Cr for Q3 FY23; same level Y-o-Y
- Total Income at INR 92.9 Cr for 9 Mo FY24 vs INR 75.2 Cr for 9 Mo FY23; 24% increase Y-o-Y
- PAT* at INR 52.4 Cr for 9 Mo FY24 vs INR 49.0 Cr for 9 Mo FY23; 7% increase Y-o-Y

Review of Q3 & 9 Mo FY 2023-24 Financial Performance (Consolidated):

- Total Income at INR 1,568.1 Cr for Q3 FY24 vs INR 1,616.6 Cr for Q3 FY23; 3% decrease Y-o-Y
- PAT* at INR 105.1 Cr for Q3 FY24 vs INR 133.1 Cr for Q3 FY23; 21% decrease Y-o-Y
- Total Income at INR 4,675.2 Cr for 9 Mo FY24 vs INR 4,941.1 Cr for 9 Mo FY23; 5% decrease Y-o-Y
- PAT* at INR 289.7 Cr for 9 Mo FY24 vs INR 366.4 Cr for 9 Mo FY23; 21% decrease Y-o-Y

*PAT is before Other Comprehensive Income from continuing operations

Shares of Kirloskar Industries Limited was last trading in BSE at Rs. 4177.30 as compared to the previous close of Rs. 4195.80. The total number of shares traded during the day was 848 in over 202 trades.

The stock hit an intraday high of Rs. 4249.95 and intraday low of 3961.65. The net turnover during the day was Rs. 3471219.00.

Source : Equity Bulls

Keywords

KirloskarIndustries INE250A01039 KIL Q3FY24 9MFY24 ResultUpdate