Kemrock Industries and Exports Ltd. (KIEL), one of the leading manufacturers of reinforced polymer (FRP) composites, has posted a 12.59 per cent increase in its net profit at Rs 15.49 crore for the first quarter ended September 30, 2011 as compared to Rs 13.76 crore in the corresponding quarter of last financial year.
The company has registered a 40 per cent increase in net sales at Rs 237.72 crore for the first quarter as compared to Rs 169.27 crore of the corresponding quarter of last financial year. High interest charges of Rs 32.89 crore have limited the growth in PAT level. Composite products contributed 85 per cent and polymers contributed 15 per cent towards the total revenue of the company. On an equity capital of Rs 17.4 crore, the fully diluted earnings per share (EPS) stood at Rs 8.88.