Agarwal Industrial Corporation reports 277% growth in PAT in Q1FY22

Agarwal Industrial Corporation reports 277% growth in PAT in Q1FY22

ANIUpdated: Wednesday, August 18, 2021, 12:38 PM IST
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PAT margin of the company stood at 3.68 per cent as compared to 2.7 per cent in the last quarter. /Representative image |

Agarwal Industrial Corporation Limited, integrated players in bitumen, closed the first quarter of FY 2021-22 with triple-digit growth in both top and bottom line. Consolidated Revenue of the Company grew 177 per cent (YoY) to Rs 407.94 crore. The consolidated profit after tax grew 277 per cent YoY to Rs. 15.07 Crore.

PAT margin of the company stood at 3.68 per cent as compared to 2.7 per cent in the last quarter. The Board of the Company has declared a final dividend of Rs 1.80, subject to the approval of shareholders.

Lalit Agarwal, Whole Time Director, Agarwal Industrial Corporation Limited, said, "The strong performance of our company was demonstrated in the first quarter by triple-digit revenue growth and increased profitability. With a strong liquidity position, a demonstrated ability to deliver execution and profitability, we are confident of weathering the crisis as well as to capture opportunities in a resilient non-recession market of Bitumen."

Jaiprakash Agarwal, Managing Director, Agarwal Industrial Corporation Limited, said: "This quarter led to the successful acquisition of Agarwal Translink Private Limited, which is believed to be a definitive step toward strengthening financials and unlocking of higher value and greater opportunities in the logistics segment."

At 12.30 PM, the company's shares on BSE were trading down (-)0.25 or 0.76 percent at Rs 326.60 a piece.

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