Kirloskar Brothers profit up 31.4%

Sanjay Kirloskar, chairman and managing director, Kirloskar Brothers, said the top-line grew at a healthy pace, driven by improved product mix and recovery in key geographies, along with robust momentum in B2C pumps in the domestic markets.

The consolidated order book was up 20% year-on-year to Rs 2,611 crore. Pump production increased 103% during the quarter under review.
The consolidated order book was up 20% year-on-year to Rs 2,611 crore. Pump production increased 103% during the quarter under review.

Pump manufacturing company Kirloskar Brothers on Wednesday reported a 31.4% rise in consolidated profit after tax to Rs 15.5 crore, while revenue increased 25.1% to Rs 784.1 crore. The consolidated order book was up 20% year-on-year to Rs 2,611 crore. Pump production increased 103% during the quarter under review.

Sanjay Kirloskar, chairman and managing director, Kirloskar Brothers, said the top-line grew at a healthy pace, driven by improved product mix and recovery in key geographies, along with robust momentum in B2C pumps in the domestic markets.

Operating expenses registered a faster growth compared to revenue, mainly on account of a sharp rise in raw material and other key input costs.

Also Read| Cummins India demand surges, but supply chain a constraint

The company made a provision of Rs 4.1 crore during Q1FY23 for partial impairment of investment in its subsidiary, The Kolhapur Steel company.

In international operations, there was growth momentum in UK, US and Thailand, with health growth at the operational level, but mark-to-market (MTM) forex loss impacted profitability. The international order book grew 42% y-o-y to Rs 747 crore.

The company’s small pump sales went up 24% y-o-y. In the water and irrigation segment, it bagged orders for the supply of 2,600 solar pump sets for various state projects and water supply schemes. Building and construction sector sales increased 53%, while power sector sales rose 91%.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos