Kamdhenu PAT Rises to Rs 16 cr, Announces Share Split

New Delhi, Nov 11 (PTI) TMT player Kamdhenu Ltd on Monday reported a 57 per cent rise in profit after tax to Rs 16 crore in the September 2024 quarter, on account of higher income.

It posted a Profit After Tax (PAT) of Rs 10.2 crore in the July-September period of FY24, the company said in a regulatory filing.

The company's income increased to Rs 196.17 crore from Rs 186.59 crore in the year-ago quarter.

"Despite a decline in the average selling price of TMT bars, we have witnessed a growth in revenue from own facility, driven by an uptick in our volume sales," a company statement said.

The board of the company also approved the sub-division or split of equity shares into a ratio of 1:10.

"One equity share of Rs 10 each fully paid up, be sub-divided/split into 10 equity shares having face value of Re 1 each fully paid up," the company said.

The record date for the sub-division/split of existing equity shares shall be decided after obtaining requisite approval of the shareholders of the company.

Kamdhenu said the move has been taken to enhance the liquidity of the company's equity shares and to encourage participation of small investors by making equity shares of the company more affordable to invest.

On its outlook, the company said demand for branded TMT is growing in India as consumers' awareness of quality and safety in construction materials is growing among consumers.

"Holding a 20 per cent market share in the organised retail TMT bar segment, we're confident in our ability to grow our market presence in the years ahead," it said.