Tiles maker Kajaria Ceramics net profit rises 3% to Rs 124.73 crore in Q3

Tiles maker Kajaria Ceramics Ltd on Friday reported a 3 per cent rise in consolidated net profit at Rs 124.73 crore for the third quarter ended December 31.

The company had posted a consolidated net profit of Rs 121.03 crore in the same quarter last fiscal, Kajaria Ceramics Ltd said in a regulatory filing.

The consolidated revenue from operations during the period under review stood at Rs 1,068.23 crore against Rs 838.32 crore in the year-ago quarter, it added.

Total expenses during the period were at Rs 915.47 crore compared to Rs 686.72 crore a year ago, the company said.

Spurt in gas prices during the quarter impacted EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins, which declined by 447 bps, Kajaria Ceramics Ltd Chairman and Managing Director Ashok Kajaria said.

On the outlook, he said, "We believe that the underlying macro drivers for investments in India remain intact. This should enable the business to thrive and grow once the immediate challenges posed by the pandemic are over".

Kajaria Ceramics also said its board has approved investments of up to Rs 210 crore in Kajaria Ultima Pvt Ltd (KUPL) to make it a wholly-owned subsidiary and to set up a slab manufacturing facility with a production capacity of 5 MSM (million square metres) per annum in Gujarat.