Kirloskar Oil Engines Q1 Profit Up 7% to Rs 117 Crore

Mumbai, Aug 7 (PTI) Kirloskar Oil Engines on Wednesday said its standalone net profit increased by 7 per cent to Rs 117 crore in three months to June over the same period last year.

The standalone profit after tax for the company was Rs 109 crore in the April-June period of FY24, the Pune-based company said in a statement.

Net sales for the quarter were Rs 1,334 crore, an increase of 6 per cent over Rs 1,256 crore achieved in Q1FY25, the company said.

The company also said it delivered an EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 174 crore for the previous quarter as against Rs 162 crore in the June quarter of FY 24. EBITDA margin was 12.9 per cent compared to 12.8 per cent for Q1 FY 24.

Cash and cash equivalents for the June quarter stood at Rs 410 crore, the company said, adding net of debt includes treasury investments and excludes unclaimed dividends.

"We have a good start of the year with the highest ever Q1 numbers for KOEL standalone. The top-line growth of 6 per cent is on a high base as we had pre-buy in Q1 FY24. The B2B business grew 5 per cent year on year and B2C business also witnessed a double-digit growth of 14 per cent year on year," said Gauri Kirloskar, Managing Director, Kirloskar Oil Engines.

The exports by the company also grew 15 per cent year-on-year to Rs 112 crores for the quarter, she said and added that " as we head into the upcoming quarter with the full implementation of CPCB IV+ emission norms, our outlook remains cautiously optimistic until we observe how the market adapts to the CPCB IV+ products across various segments.