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Updated on: Wednesday, August 11, 2021, 10:29 PM IST

Kirloskar Oil Engines Q1 net profit at Rs 32 cr; revenue up 94%

PTI
Kirloskar Oil Engines Ltd (KOEL)  had posted a net loss of Rs 6.73 crore in Q1-FY21/ Representational image |

Kirloskar Oil Engines Ltd (KOEL) had posted a net loss of Rs 6.73 crore in Q1-FY21/ Representational image |

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Kirloskar Oil Engines Ltd (KOEL) on Wednesday reported a consolidated net profit of Rs 32.30 crore for the first quarter ended June 30, 2021.

The company had posted a net loss of Rs 6.73 crore in the same period last fiscal year, KOEL said in a regulatory filing.

Revenue from operations stood at Rs 820.83 crore as compared to Rs 422.33 crore in the corresponding quarter last fiscal year, it added. Commenting on the performance, KOEL Managing Director Sanjeev Nimkar said the first quarter performance has been quite promising especially after the very challenging last year.

"We continue to have a good order book amidst the second wave of COVID-19...Our focus on fixed cost management continues to yield better results," he added.

Total expenses were higher at Rs 783.19 crore in the first quarter as compared to Rs 436.58 crore in the year-ago period, KOEL said.

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Published on: Wednesday, August 11, 2021, 10:29 PM IST
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