KPR Mill Q3 PAT jumps 35% YoY; announces buyback of Rs 179.99 cr

KPR Mill reported a 35.5% rise in consolidated net profit to Rs 211.77 crore on a 35.59% increase in revenue from operations to Rs 1260.48 crore in Q3 FY22 over Q3 FY21.

Profit before tax jumped by 29.8% to Rs 283.2 crore in Q3 FY22 from Rs 218.2 crore posted in Q3 FY21. Total expenses surged 39% to Rs 1002.65 crore in Q3 FY22 as compared to Rs 721.3 crore reported in the same quarter last year.

Meanwhile, the company's board announced a buyback of 22,36,000 equity shares, for an aggregate amount not exceeding Rs 179.99 crore. The total buyback shares represent 9.53% of the total paid-up equity capital of the company. The buyback is proposed to be made at a price of Rs 805 per share. The buyback price is 16.72% premium to the current traded price.

 

As on 4 February 2022, promoters held 74.72% stake in the company.

KPR Mill is one of the largest vertically integrated with diversified business focus spanning across yarn, fabrics, garments and white crystal sugar. It makes a range of textile varieties such as readymade knitted apparel; fabrics; compact, melange, carded, polyster and combed yarn.

Shares of KPR Mill were trading 3.63% lower at Rs 689.70 on BSE.

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