- Kirloskar Ferrous Industries reported a 65.4% decline in net profit for the June quarter
- Net profit stood at Rs 82.3 crore, down from Rs 238 crore in the previous year
- Revenue increased by 4.4% to Rs 1,772 crore compared to Rs 1,698 crore last year
Kirloskar Ferrous Industries Ltd. reported a sharp 65.4% year-on-year decline in consolidated net profit for the June quarter, as one-time items weighed on the bottom line despite a modest rise in revenue.
The company posted a net profit of Rs 82.3 crore for the quarter, compared with Rs 238 crore a year earlier. Revenue, however, rose 4.4% to Rs 1,772 crore from Rs 1,698 crore in the corresponding quarter last year.
Operating performance remained largely stable. EBITDA slipped 0.9% to Rs 215 crore from Rs 217 crore a year ago, while the EBITDA margin narrowed to 12.1% from 12.8%.
The steep fall in profit was largely influenced by exceptional items. The company incurred a one-time loss of Rs 29 crore during the June quarter. In comparison, the year-ago period had benefited from a tax write-back of Rs 108 crore, creating a high base for comparison.
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