Kennametal India second quarter net jumps over 85% to Rs 30.6 cr

Kennametal India Ltd (KIL) has registered over 85 per cent jump in its consolidated net profit at Rs 30.6 crore for the second quarter ended December 31, mainly on account of higher income.

The company had a net profit of Rs 16.5 crore in the year-ago quarter, the Bengaluru-based company said in a regulatory filing on Thursday.

The company, which is a subsidiary of the US-based Kennametal Inc, follows July to June as its financial year.

Kennametal India further said its total income during October-December 2021, rose to Rs 242.5 crore, compared to Rs 217.8 crore in the year-ago period.

During the said period, its total expenses stood at Rs 201.9 crore, as against Rs 195.2 crore a year ago.

In a separate statement, the company said despite market challenges, it has delivered strong performance in both the hard metals and machine tools segments with growth witnessed across the key sectors of transportation, earthworks, energy, aerospace, and general engineering.

"Our ability to manage the impact of commodity price increases, continued cost management and a focus on manufacturing excellence to deliver on customer commitments, has helped us perform on critical financial parameters," Vijaykrishnan Venkatesan, Managing Director, KIL said.

Kennametal India manufactures hard metal products and machine tools for use in the manufacturing, auto, and general engineering industries.

Shares of the company were trading at Rs 1,950 apiece, up 2.19 per cent on BSE.