Kirloskar Oil Engines Q3 Profit Jumps 21% to Rs 82 Cr
Feb 12, 2024 19:10
Kirloskar Oil Engines reported a 21% rise in net profit to Rs 82 crore in the December quarter, driven by strong domestic demand and a significant order from NPCIL.
Mumbai, Feb 12 (PTI) Kirloskar Oil Engines on Monday posted a 21 per cent growth in net profit to Rs 82 crore in the December quarter.
The Pune-based company had delivered a net profit of Rs 68 crore in the year-ago period, it said in a statement.
Net sales for the third quarter of this fiscal stood at Rs 1,125 crore, up from Rs 990 crore in the year-ago period, registering an increase of 14 per cent, it said.
Cash and cash equivalent during the quarter under review stood at Rs 78 crore, the company said.
"On the domestic front, we continued to see strong demand and are fulfilling our orders for both CPCB II and CPCBIV+ gensets. For our industrial business, we saw strong demand from the construction and railway segments," Kirloskar Oil Engines Ltd Managing Director Gauri Kirloskar said.
Additionally, the company secured a significant order in the defence and nuclear segment, worth Rs 768 crore from the Nuclear Power Corporation of India Ltd, she said.
The order is the largest single order ever received by the company, she said.
Through various strategic initiatives on the B2C side, we are seeing a substantial improvement in profitability, she added.
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