Kamdhenu Q1 profit rises 44 pc to Rs 2.76 cr

TMT bar maker Kamdhenu Ltd today posted a 44.50 per cent jump in its net profit at Rs 2.76 crore for the quarter ended June 30, 2017.
It had clocked a net profit of Rs 1.91 crore in the year-ago quarter, the Gurugram-headquartered firm said in a filing to the BSE.
During the April-June quarter of the ongoing fiscal, total income of the company grew by over 22 per cent to Rs 235.96 crore from Rs 192.28 crore in the same period of FY 2016-17, it said.
Its total expenses were reported at Rs 231.66 crore as compared to Rs 189.40 crore in the same quarter a year ago.

"The Goods and Services Tax (GST) did not have any negative impact," Kamdhenu Ltd Chairman and Managing Director Satish Kumar Agarwal told PTI.
Instead, in the April-June quarter TMT bar prices were higher by Rs 4,000 per tonne, as compared to the rates per tonne in the year ago quarter, he added.
Kamdhenu Ltd, formerly known as Kamdhenu Ispat Ltd, follows franchisee business model and is the market leader in branded TMT Bars. It has a network of over 8,500 dealers/distributors in the country. The company is also into paint making.
Shares of the company today ended 0.27 per cent higher at Rs 131 apiece on BSE.