Kirloskar Pneumatic Company Ltd (KPCL) (BSE : 505283; NSE: KIRLPNU), a major player in Air, Refrigeration & Gas Compression business in India, announced today its financial results for Q2 and H1 of the financial year FY 24, the company announced through an exchange filing.
While revenue from operations for the quarter showed a growth of 16 percent+ over Q1, H1 revenue was lower by about 8 percent compared to H1 of F23 largely on account of lower export sales by Rs 47 cr.
The order booking continued to be robust with an additional order inflow of over Rs 340 crore in H1 compared to H1 of F23. The orders in hand as of 30th Sept 23 were Rs. 1,450 crore. This will help the Company in having strong H2 sales execution that will result in a sales growth over the previous year.
Profit before tax ( PBT ) for Q2 FY 24 was Rs 26.8 crore, a growth of 14 percent over Q1 FY 24 PBT of Rs. 23.5 crore. For the H1 FY 24, profit before tax was at Rs. 50.3 crore compared to Rs. 57.6 crore of previous year due to lower sales particularly in export market in the current period.
Review of Financial performance Q2 F24:
Revenue from operations for Q2 FY 24 were up by 16 percent over Q1 FY 24. Consequentially total Income stood at Rs 286 crore as against Rs 248 crore of Q1 FY 24. EBITDA margin however was at 12.5 percent in Q2 FY 24 compared to 13 percent in Q1 FY24 due to lower other income and cost of settlement of labour disputes. PBT remained around 9.5 percent in both Q1 and Q2 of FY 24