Somany Ceramics Q2 net profit up 68% at Rs 10.5 crore

Tiles manufacturer Somany Ceramics Ltd today reported a 68 per cent increase in its net profit at Rs 10.50 crore for the quarter ended September 30.
Its net profit stood at Rs 6.25 crore in the year-ago period.
Sales increased by 21.9 per cent to Rs 370.24 crore in the second quarter of this fiscal as against Rs 303.82 crore during the corresponding period of the previous year.
Exports grew by 91.3 per cent to Rs 17.79 crore during the period under review.
Somany Ceramics is a leading manufacturer of wall & floor tiles, sanitaryware and bath-fittings.
"We have grown our topline by 21.9 per cent year-on-year, and our performance in the 2nd quarter is a harbinger of the growth going forward. We continue to invest in product innovation and our latest launches of tiles with high gloss and higher resistance to slipping are being very well received by businesses and household consumers across India," company's Joint Managing Director Abhishek Somany said.

"Coupled with the increased consumer confidence now, we are reinforcing investments in capacity additions to meet the heightened demand," he added.