 "Kirloskar Brothers Q1FY24 results: Net profit jumps 321% YoY to Rs 33 cr")
The standalone net profit of Kirloskar Brothers Limited for the first quarter of the current financial year (Q1YFY24) saw a rise of 321.25 per cent to Rs 33.7 crore, compared to Rs 8 crore for the corresponding quarter of the previous year, the company said in a BSE filing.
Sequentially, the net profit was down 57.6 per cent. In Q4FY23, the net profit of the company was Rs 79.5 crore.
The revenue from operations for Q1FY24 came in at Rs 581.2 crore, compared to Rs 542.4 crore year-on-year (YoY). This is a rise of 7.15 per cent.
On a quarter-on-quarter (QoQ) basis, the revenue for operations was down 26.8 per cent. It was Rs 794 crore in Q4FY23.
The total income for Q1FY24 came in at Rs 585.7 crore, compared to Rs 548.8 crore YoY. This is a rise of 6.72 per cent.
On a QoQ basis, the total income was down 27.63 per cent. It was Rs 809.4 crore in Q4FY23.
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In December last year, the company had appointed Manasi Tata, daughter of late Vikram Kirloskar, as director on the board of the company's joint-venture firms with immediate effect.
These joint ventures include Toyota Industries Engine India Pvt. Ltd, Kirloskar Toyota Textile Machinery Pvt. Ltd (KTTM), Toyota Material Handling India Pvt. Ltd (TMHIN), and Denso Kirloskar Industries Pvt. Ltd (DNKI).