Asian Granito India Q4 net profit up 70% at Rs 13.87 cr

Tile company Asian Granito India today reported a 70.18 per cent increase in consolidated net profit at Rs 13.87 crore for the fourth quarter ended March 31, 2017.
The company had posted a consolidated net profit of Rs 8.15 crore in the corresponding quarter of 2015-16, Asian Granito India Ltd (AGIL) said in a statement.
Net sales for the three-months ended March 31 stood at Rs 341.16 crore as against Rs 308.83 crore in the year-ago period, higher by 10.47 per cent.
Commenting on the results, AGIL Chairman and Managing Director Kamlesh Patel said: "For the FY17, despite demonetisation effect, overall performance was good for the company. AGIL is shifting its focus from B2B to B2C segment and is on the path of aggressive retail expansion plans."

For the entire fiscal, the company reported a 61.21 per cent rise in consolidated net profit at Rs 39.11 crore as against Rs 24.26 crore in the corresponding period of 2015-16.
Net sales for the year stood at Rs 1,065.95 crore as compared to Rs 993.90 crore in 2015-16.
Shares of the company closed 0.23 per cent down at Rs 362.95 on BSE.