Kamdhenu Q1 net profit grows 20 pc to Rs 12 cr

New Delhi, Jul 31 (PTI) Leading TMT maker Kamdhenu Ltd on Monday posted a 20 per cent growth in its net profit to Rs 12.1 crore for the June 2023 quarter, helped by higher revenues.

It had clocked a net profit of Rs 10 crore during the April-June period of the preceding 2022-23 fiscal, the company said in a statement.

The company's revenue from operations also rose by 9 per cent to Rs 208.6 crore from Rs 191.2 crore in the year-ago quarter.

Kamdhenu CMD Satish Kumar Agarwal said, "We have delivered a strong performance in Q1 FY24. Our total brand sales turnover has increased by 15 per cent to Rs 6,131 crore with franchisee volumes growing 12 per cent for this quarter".

On the outlook for the steel sector, he said the demand will continue to grow on the back of growing sectors like infrastructure and construction, automotive and manufacturing. These sectors consume 80 per cent of the steel consumed in the country.

The Gurugram-based TMT maker operates on a franchisee model in the steel segment.

Shares of the company ended at Rs 308.60 apiece, up 1.28 per cent from its previous close on BSE. PTI ABI ABI BAL BAL