Somany Ceramics reports 104.01% growth in Q3 profits
ECONOMY & POLICY

Somany Ceramics reports 104.01% growth in Q3 profits

During the quarter ending on December 30, 2023, Somany Ceramics recorded a significant growth of 104.01% in its net consolidated profit. The company reported a profit after tax of Rs 234 million in Q3 FY24, a substantial increase compared to the Rs 114.7 million registered in the corresponding quarter of the previous fiscal year, as disclosed in a filing with the BSE.

In terms of net consolidated total income, Somany Ceramics posted Rs 6149.5 million in Q3 FY24, marking a slight decrease of 1.85% from the Rs 6265.1 million reported in the same quarter the previous year.

Additionally, the board of directors sanctioned an investment of up to Rs 37.6 million in equity shares of a special purpose vehicle, either existing or to be incorporated by CleanMax Enviro Energy Solutions. This investment is in accordance with the provisions of the Electricity Act, 2003, and is intended for acquiring solar power from an energy-based captive generating plant located in Haryana.

During the quarter ending on December 30, 2023, Somany Ceramics recorded a significant growth of 104.01% in its net consolidated profit. The company reported a profit after tax of Rs 234 million in Q3 FY24, a substantial increase compared to the Rs 114.7 million registered in the corresponding quarter of the previous fiscal year, as disclosed in a filing with the BSE. In terms of net consolidated total income, Somany Ceramics posted Rs 6149.5 million in Q3 FY24, marking a slight decrease of 1.85% from the Rs 6265.1 million reported in the same quarter the previous year. Additionally, the board of directors sanctioned an investment of up to Rs 37.6 million in equity shares of a special purpose vehicle, either existing or to be incorporated by CleanMax Enviro Energy Solutions. This investment is in accordance with the provisions of the Electricity Act, 2003, and is intended for acquiring solar power from an energy-based captive generating plant located in Haryana.

Next Story
Infrastructure Urban

India, EU Unite for Research on Marine Plastic & Waste-to-Hydrogen

India and the European Union (EU) have launched two major research and innovation initiatives under the India-EU Trade and Technology Council (TTC). The TTC was established in 2022, by Indian Prime Minister Narendra Modi and European Commission President, Ursula von der Leyen to strengthen the bilateral partnership on trade and technology. With a joint investment of Rs 3.91 billion, the initiatives focus on two coordinated calls in the areas of Marine Plastic Litter (MPL) and Waste to Green Hydrogen (W2GH), co-funded by Horizon Europe—the EU’s research and innovation framework programme—..

Next Story
Infrastructure Urban

Dr Ajay Kumar Takes Over as UPSC Chairman

Dr Ajay Kumar, Former Secretary, Ministry of Defence took the Oath of Office and Secrecy as Chairman, Union Public Service Commission today. The Oath was administered by Lt Gen Raj Shukla (Retd.), the senior most Member of the Commission.Having pursued a B Tech. in Electrical Engineering from the Indian Institute of Technology, Kanpur, Dr Ajay Kumar has done his MS in Applied Economics from the University of Minnesota, USA and PhD in Business Administration from Carlson School of Management, University of Minnesota, USA. He was also conferred an Hon. Doctor of Philosophy by Amity University in..

Next Story
Infrastructure Urban

MSME Ministry Invites Applications for National Award 2024

The Ministry of Micro, Small and Medium Enterprises (MSME) has acknowledged the significant contributions made by MSME entrepreneurs and aims to motivate and encourage them by presenting National Awards for outstanding performance. Currently, there are 35 National Awards offered to MSMEs across various categories. Special provisions have been made to recognize MSMEs led by women entrepreneurs, those belonging to Scheduled Castes (SC) and Scheduled Tribes (ST), and entrepreneurs from the North Eastern Region.Under this scheme, selected MSMEs are honored with a trophy and certificate, along with..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?