Kamdhenu Ventures Reports Rs 4 Cr Profit in Q4
By Rediff Money Desk, New Delhi May 08, 2024 13:42
Kamdhenu Ventures, a Kamdhenu Group company, has reported a profit after tax (PAT) of Rs 4.2 crore in the March quarter, driven by higher revenues. The company's revenue from operations increased by 20% to Rs 85.1 crore.
New Delhi, May 9 (PTI) Kamdhenu Ventures, a Kamdhenu Group company, has turned profitable, posting Rs 4.2 crore profit after tax (PAT) in the March quarter, aided by higher revenues.
It posted a net loss of Rs 2.5 crore in the January-March period of 2022-23, the company said in a statement on Wednesday.
The company's revenue from operations rose 20 per cent to Rs 85.1 crore from Rs 70.8 crore in the year ago period.
During FY24, the company's PAT was Rs 13.9 crore. It had incurred a loss of Rs 11.3 crore in FY23.
It had clocked a revenue of Rs 291.7 crore during FY24, up 12 per cent over Rs 259.5 crore a year ago.
Kamdhenu Ventures Managing Director Saurabh Agarwal said, "FY24 has been a turnaround year for Kamdhenu Ventures. Our EBITDA and PAT have significantly turned positive compared to last year.
"We have achieved EBITDA margins of 7.7 per cent for FY24. This can be attributed to achieving strong economies of scale, coupled with operating leverage playing out."
Kamdhenu Ventures, a listed entity of Kamdhenu Group, is into manufacturing of paints. It was demerged as a separate business in 2022.
It posted a net loss of Rs 2.5 crore in the January-March period of 2022-23, the company said in a statement on Wednesday.
The company's revenue from operations rose 20 per cent to Rs 85.1 crore from Rs 70.8 crore in the year ago period.
During FY24, the company's PAT was Rs 13.9 crore. It had incurred a loss of Rs 11.3 crore in FY23.
It had clocked a revenue of Rs 291.7 crore during FY24, up 12 per cent over Rs 259.5 crore a year ago.
Kamdhenu Ventures Managing Director Saurabh Agarwal said, "FY24 has been a turnaround year for Kamdhenu Ventures. Our EBITDA and PAT have significantly turned positive compared to last year.
"We have achieved EBITDA margins of 7.7 per cent for FY24. This can be attributed to achieving strong economies of scale, coupled with operating leverage playing out."
Kamdhenu Ventures, a listed entity of Kamdhenu Group, is into manufacturing of paints. It was demerged as a separate business in 2022.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.80 ( -0.71)
- 44492337
- G V Films
- 0.94 (+ 9.30)
- 37404318
- Jaiprakash Power Ven
- 19.44 ( -3.38)
- 30530141
- Spicejet Ltd.
- 62.79 ( -4.25)
- 22824171
- Srestha Finvest
- 0.89 (+ 4.71)
- 21696619
MORE NEWS
Frammer AI Raises USD 2 Million from Lumikai
Video content creation platform Frammer AI secures USD 2 million investment from...
Zomato CEO Calls for Better Treatment of...
Zomato CEO Deepinder Goyal experienced firsthand the challenges faced by delivery...
Samsung Labor Strike: Talks Held in Tamil Nadu
Samsung officials met with Tamil Nadu's Industries Minister to resolve the ongoing...