Somany Ceramics Ltd. reported a sharp improvement in its consolidated performance for the quarter ended June, with revenue rising 24.1% year-on-year and operating profitability expanding significantly.
Consolidated revenue from operations stood at Rs 749.6 crore in the June quarter, compared with Rs 602.4 crore a year earlier. Including other income, total income rose to Rs 753.1 crore from Rs 606.3 crore, according to the company's filing.
Net profit attributable to owners of the company stood at Rs 35.54 crore, compared with Rs 7.35 crore in the year-ago quarter. Total consolidated net profit for the period was Rs 34.23 crore, against Rs 7.35 crore a year earlier.
The sharp improvement in earnings was accompanied by a strong expansion in operating profitability. EBITDA rose 81.1% year-on-year to Rs 86.4 crore, while EBITDA margin expanded to 11.5% from 7.9%.
Profit before tax climbed to Rs 49.78 crore from Rs 11.39 crore in the corresponding quarter last year, underscoring the improvement in the company's operating performance.
On a standalone basis, revenue from operations rose to Rs 691.86 crore from Rs 581.82 crore, while net profit increased to Rs 35.11 crore from Rs 16.76 crore in the year-ago quarter. The company operates in a single reportable segment, ceramic tiles and allied products, according to the filing. The results were approved by the board on August 12 and were subject to a limited review by the statutory auditor.
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The consolidated results include Somany's subsidiaries spanning vitrified tiles, bathware, sanitaryware and bath fittings businesses.
Somany Ceramics Q1 Result Highlights (Cons, YoY)
- Net Profit at Rs 36 crore versus Rs 10 crore.
- Revenue up 24.1% at Rs 750 crore versus Rs 604 crore.
- EBITDA up 81.1% at Rs 86.4 crore versus Rs 47.7 crore.
- EBITDA Margin up 360 bps at 11.5% versus 7.9%.
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