 "Asian Granito India Q1 result: PAT Rs 30 lakh, net sales up 3% at Rs 343 cr | Company Results")
Shares of the company were trading 2.27 per cent higher at Rs 76.64 on BSE in the preclose session.
Leading luxury surfaces and bathware products manufacturer Asian Granito India turned profitable in the first quarter of 2024-25, reporting a consolidated profit of Rs 30 lakh against a loss of Rs 3.6 cr in the year-ago period.
The recovery was led by a 3 per cent increase in its consolidated net sales to Rs 343.2 cr in the April-June quarter of the current fiscal compared to net sales of Rs 334.8 cr in the first quarter of FY24, the company said in a statement.
The earnings before interest tax depreciation and amortisation (Ebitda) for the quarter under review stood at Rs 16.1 cr against Rs 9.6 cr in the year-ago period, the company said.
“Strategic initiatives such as the Morbi expansion, the AGL demerger, focus on retail presence, showroom expansion, among others, demonstrate the company’s strong commitment to growth,” Asian Granito India Chairman and MD Kamlesh Patel said.
The company said it is investing around Rs 73 cr to set up a mega display centre-cum- office in Ahmedabad.
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First Published: Aug 07 2024 | 11:22 PM IST
