Kajaria Ceramics Q2 PAT declines 4% YoY

Kajaria Ceramics posted a 4% fall in consolidated net profit to Rs 89.12 crore in Q2 September 2020 from Rs 93.07 crore in Q2 September 2019.

Consolidated revenue from operations remained almost flat at Rs 712.51 crore in Q2 FY21 as against Rs 714.68 crore in Q2 FY20. The result was announced during market hours today, 20 October 2020.

Profit before tax (PBT) stood at Rs 119 crore, rising 48% year-on-year (YoY) in Q2 FY21. The company paid a total tax expense of Rs 29.40 crore in Q2 FY21 compared with a rebate of Rs 12.39 crore received in the same period last year.

Consolidated EBITDA jumped 37% year-on-year to Rs 143.69 crore in Q2 FY21. EBITDA margin improved to 20.17% in Q2 FY21 from 14.72% in Q2 FY20.

Commenting on the performance, Ashok Kumar Kajaria, chairman said, "We have regained our pre Covid-19 performance levels in the second quarter of FY2021. Our asset utilisation was in excess of 90% in Q2 FY21. Our sales volumes and revenue are in line with the corresponding quarter of the previous year. Subdued gas prices and reduction in some of the overheads have yielded a heartening improvement in profitability margins. As a resurgent India continues to strengthen its economic momentum, we remain confident of sustaining our pace, going forward."

Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India and the 9th largest in the world. It has present annual capacity of 70.40 mn. sq. meters presently, distributed across eight plants.

Shares of Kajaria Ceramics came off the day's low and were trading 0.14% lower at Rs 564.60 on BSE.

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