Granite company Pokarna Ltd has posted a net profit of Rs 13.04 crore for the second quarter ended September 30, 2015 as against a net profit of Rs 3.81 crore for the corresponding quarter last year on a consolidated basis.
The Hyderabad-based company posted sales revenue of Rs 98.60 crore for the second quarter as against Rs 82.67 crore for the corresponding quarter last year.
For the financial year ended March 31, 2015, the company had posted a net profit of Rs 31.36 crore and income of Rs 326.35 crore.
Gautam Chand Jain, Chairman of Pokarna Granites, in a statement said “We are delighted to build on to the positive start to the year by delivering another quarter of solid financial results. Going forward, we are hopeful that our efforts towards increasing and widening brand visibility, coupled with our focus on consistently increasing the depth of our palette should help the business generate significant revenue and profitability growth.”
The company continues to be positive with regard to its outlook of continuing strong demand from the US which is its primary market as well as the Middle East and Europe.
Strong performance by the Quartz segment helped deliver higher profitability. Operating margins for Quartz business improved to 38 per cent from 29 per cent in the previous quarter. This improvement has been driven by a mix of improving efficiencies and capacity utilisation, better pricing and currency gain.