Kajaria Ceramics notes 3% jump in net profit to Rs 124.73 cr in Q3

Tiles manufacturing company Kajaria Ceramics Limited has reported a 3% increase in consolidated net profit for the third quarter ended December 31, to Rs 124.73 crore. Kajaria Ceramics Limited said that in a regulatory filing it made a consolidated net profit of Rs 121.03 crore in the same quarter the previous year. During the quarter under review, the consolidated income from operations was Rs 1,068.23 crore, up from Rs 838.32 crore the previous quarter. According to the company, total expenses for the quarter were Rs 915.47 crore, up from Rs 686.72 crore a year before. According to Kajaria Ceramics Limited Chairman and Managing Director Ashok Kajaria, a spike in gas costs during the quarter hurt Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) margins, which fell by 447 basis points. Kajaria Ceramics recently announced that its board of directors has approved investments of up to Rs 210 crore in Kajaria Ultima Pvt Limited (KUPL) to turn it into a wholly-owned subsidiary and build a slab manufacturing factory in Gujarat with a production capacity of 5 million sq m per year. Kajaria Ceramics is India's largest ceramic or vitrified tiles maker. It has an annual aggregate capacity of 70.40 million sq m, split over eight plants in Uttar Pradesh, Rajasthan, Andhra Pradesh, and Gujarat. Kajaria's production facilities are outfitted with cutting-edge technology. Intense automation, robotic automobile applications, and a zero likelihood of human error are just a few of the reasons Kajaria is the market leader. Image Source Also read: Morbi ceramic factories likely to shut down due to rising costs