Kirloskar Industries Ltd (KIL) posted a consolidated net profit of ₹234 crore for the second quarter ended September 30, 2022..
Total income increased 83 per cent to ₹1,812.1 crore (₹992.1 crore)..
PBT decreased to ₹182.4 crore (₹187.1 crore). PAT fell to ₹130.8 crore (₹134.7 crore).
For H1 period, total Income was at ₹3,326.7 crore (₹1,824.0 crore) an 82 per cent increase. H1 FY23 included the performance of the step-down subsidiary ISMT Ltd. PBT was at ₹309.7 crore (₹375.9 crore).
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Commenting on performance, , Mahesh Chhabria, Managing Director, KIL, said “This was a good quarter for Kirloskar industries as we moved ahead on our business plan. We divested our holding in Swaraj Engines Ltd this quarter. We plan to invest the proceeds from this transaction in our business and group companies/subsidiaries, in the due course. Our real estate venture Avante Spaces Ltd. is moving ahead as planned. Also, Kirloskar Ferrous Industries and ISMT announced the merger last week. We are positive on the business prospects of both subsidiaries.”