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In terms of standalone performance, KIL’s total income for the fourth quarter of FY24 was ₹40.65 crore, compared with ₹39.82 crore in the same period last year, marking a 2.08 per cent increase year-on-year. However, the standalone profit after tax (PAT) for the quarter decreased by 11.36 per cent to ₹22.23 crore from ₹25.08 crore in Q4 FY23.
For the full fiscal year 2023-24, KIL’s standalone total income stood at ₹133.51 crore, up from ₹114.99 crore in FY23, representing a 16.10 per cent increase y-o-y. The standalone PAT for FY24 was ₹74.64 crore, a marginal 0.70 per cent increase compared with 74.12 crore in the previous fiscal year.
On a consolidated basis, KIL reported a total income of ₹1,736.44 crore for the fourth quarter of FY24, up from ₹1,591.51 crore in Q4 FY23, indicating a 9.11 per cent increase y-o-y. However, the consolidated PAT for the quarter decreased by 23.82 per cent to ₹70.99 crore from ₹93.19 crore in Q4 FY23.
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For the full fiscal year 2023-24, KIL’s consolidated total income was ₹6,411.65 crore, slightly down from ₹6,532.65 crore in FY23, representing a 1.85 per cent decrease y-o-y. The consolidated PAT for FY24 was ₹360.73 crore, a 21.50 per cent decrease compared with ₹459.57 crore in the previous fiscal year.
Commenting on the Q4 and full year results, Mahesh Chhabria, Managing Director, KIL, said “We are delighted to announce our fourth quarter and full year results. This quarter marks a significant milestone as Avante Spaces Ltd (ASL), our 100 per cent subsidiary in real estate business, has recognised revenue from its first project “One Avante” in Kothrud (Pune), which is now reflected in our consolidated performance. ASL is now focused on executing the second project on time despite challenges in labour market and approval delays. Due to the challenges faced by our subsidiary Kirloskar Ferrous Industries Ltd. (KFIL), on account of subdued demand in the tractor industry and lower pig iron realisation, we saw a dip of ~1.5 per cent in our consolidated revenue from operations. Additionally, the KFIL-ISMT merger is progressing well and is expected to be completed soon.”
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