Kirloskar Brothers Limited posted fiscal first quarter profits at Rs 63.70 crore, up 313.6 per cent in comparison to Rs 15.40 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 899.50 crore, up 14.7 per cent as against Rs 784.10 crore during the first quarter of financial year 2022-23. The company EBITDA stood at Rs 110 crore. While the total income during the quarter came at Rs 905 crore, total expenses incurred by the company during the first quarter of FY23 was at Rs 815.10 crore.
Kirloskar Brothers posted a revenue of Rs 574.40 crore for its business within India during the quarter. Its revenue for operations outside India came in at Rs 325.10 crore.
The company board also announced the appointment of Vinayak Deshpande as an additional director in the category of Independent Director, for a period of 5 years, with effect from August 02, 2023. Vinayak Deshpande is a graduate in Chemical Engineering (1980) from IIT, Kharagpur. He has over 42 years’ of experience, largely in two domains – industrial automation, software, advanced controls and Level 4 MES, Optimisation (Honeywell), and large infrastructure projects spanning telecom, power generation, refinery & petrochem, minerals & metals, urban infrastructure with metros, bridges and airports.
Vinayak Deshpande presently serves on the Boards of Kennametal India Ltd., Voltas Ltd., Universal MEP Projects & Engineering Services Ltd. and Signify Innovations India Ltd.(Chairman).