Craftsman Automation edges lower after weak Q1 performance

Craftsman Automation slipped 3.21% to Rs 5146.40 after the company reported 28.6% fall in consolidated net profit to Rs 53.19 crore in Q1 FY25 from Rs 74.48 crore in Q1 FY24.

Net sales increased by 10.9% year-over-year (YoY) to Rs 1,151.19 crore in the first quarter of 2024-25.

Total operating expenditure rose by 15.8% to Rs 953.86 crore in Q1 FY25 over Q1 FY24, due to higher raw material costs (up 11.9% YoY), higher other expenses (up 9.5% YoY) and higher employee expenses (up 10.2% YoY).

Interest payments and depreciation charges for Q1 FY25 were Rs 49.15 crore (up 15.9% YoY) and Rs 72.49 crore (up 6.2% YoY), respectively.

Profit before tax in Q1 FY25 stood at Rs 80.71 crore, down by 24.9% from Rs 107.45 crore posted in Q1 FY24.

Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely automotive-powertrain and others, automotivealuminum products, and industrial and engineering.

Powered by Capital Market - Live News