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Kirloskar Oil Engines on Wednesday said its standalone net profit increased by 7 per cent to Rs 117 crore in three months to June over the same period last year. The standalone profit after tax for the company was Rs 109 crore in the April-June period of FY24, the Pune-based company said in a statement. Net sales for the quarter were Rs 1,334 crore, an increase of 6 per cent over Rs 1,256 crore achieved in Q1FY25, the company said. The company also said it delivered an EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 174 crore for the previous quarter as against Rs 162 crore in the June quarter of FY 24. EBITDA margin was 12.9 per cent compared to 12.8 per cent for Q1 FY 24. Cash and cash equivalents for the June quarter stood at Rs 410 crore, the company said, adding net of debt includes treasury investments and excludes unclaimed dividends. "We have a good start of the year with the highest ever Q1 numbers for KOEL standalone. The top-line growth of 6
Engine oil maler Kirloskar Oil Engines Limited on Wednesday reported a 26 per cent growth in standalone net profit to Rs 128 crore in the fourth quarter ended March 2024. The Pune-based firm had posted a consolidated net profit of Rs 94 crore in the fourth quarter of FY23, according to a statement. Its net sales during the quarter under review rose 21 per cent to Rs 1,378 crore from Rs 1,141 crore a year ago, the company said. For the full fiscal 2023-24, the company's net profit increased 26 per cent to Rs 375 crore against Rs 298 crore delivered in FY23, it added. Its net sales for FY24 grew 18 per cent to Rs 4,806 crore from Rs 4,073 crore in FY23. The company also said its full-year export revenue for the first time crossed Rs 500 crore in the previous fiscal. Undoubtedly, it has been a challenging year operationally, navigating the transitions associated with emission norm changes. However, the company has successfully managed this transition, Kirloskar Oil Engines said.
Sebi chief Madhabi Puri Buch on Friday said the capital markets regulator deeply regrets the failure to de-freeze the shares held by members of the Kirloskar family in Kirloskar Industries Ltd (KIL) despite the SAT's directive. "I think what happened in terms of delay in de-freezing accounts was unacceptable. Whatever have been the cause and root cause, communications with the depository etc., Sebi was responsible, Sebi was accountable, we deeply regret what happened," Buch told reporters at the sidelines of the CII Global Economic Policy Forum here. Further, she said that the Securities and Exchange Board of India (Sebi) has already initiated a full process review in this regard. "Within 30-45 days. We will revamp the process. So that risk of this happening again is completely minimised," she added. The comments came after the Securities Appellate Tribunal (SAT) pulled up Sebi on Monday for failing to de-freeze the shares held by members of the Kirloskar family in Kirloskar ...