Q3FY24 Quarterly & 9MFY24 Result Announced for Kirloskar Oil Engines Ltd.
Heavy Electrical Equipment company Kirloskar Oil Engines announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: Revenue from operations at Rs 1,390 crore for Q3FY24 vs Rs 1,220 crore for Q3FY23; 14% increase YoY Net profit at Rs 89 crore for Q3FY24 vs Rs 88 crore for Q3FY23; 1% increase YoY Standalone Q3FY24: Net sales at Rs 1,125 crore for Q3FY24 vs Rs 990 crore for Q3FY23; 14% increase YoY EBITDA at Rs 133 crore for Q3FY24 vs Rs 109 crore for Q3FY23; 21% increase YoY EBITDA margin at 11.7% for Q3FY24 vs 10.9% for Q3FY23 Net profit at Rs 82 crore Q3FY24 vs Rs 68 crore for Q3FY23; 21% increase YoY Cash and cash equivalents of Rs 78 crore Consolidated 9MFY24: Revenue from operations at Rs 4,238 crore for 9MFY24 vs Rs 3,640 crore for 9MFY23; 16% increase YoY Net profit at Rs 293 crore for 9MFY24 vs Rs 253 crore for 9MFY23; 16% increase YoY Standalone 9MFY24: Net sales at Rs 3,428 crore for 9MFY24 vs Rs 2,932 crore for 9MFY23; 17% increase YoY EBITDA at Rs 386 crore for 9MFY24 vs Rs 328 crore for 9MFY23; 18% increase YoY EBITDA margin at 11.2% for 9MFY24 vs 11.1% for 9MFY23 Net profit at Rs 244 crore for 9MFY24 vs Rs 205 crore for 9MFY23; 19% increase YoY Gauri Kirloskar, Managing Director of Kirloskar Oil Engines, commented on the Q3 results, stating, "This was a good quarter for Kirloskar Oil Engines, evident in both financial achievements and significant progress in key strategic initiatives. As part of our Global Power Generation business, we have appointed key GOEM partners in the MENA and North American regions during the quarter. This is a strategic step towards business expansion and facilitating market development in international markets. On the domestic front, we continued to see strong demand and are fulfilling our orders for both CPCBII and CPCBIV+ gensets. For our Industrial business, we saw strong demand from the construction and railway segments. Additionally, we secured a significant order in the defence and nuclear segment, worth Rs 768 crore from Nuclear Power Corporation of India Limited. This order stands as the largest single order ever received by Kirloskar Oil Engines. For our Distribution & Aftermarket business, enhancing our service penetration is a strategic priority and we are working towards growing our service capabilities. Through various strategic initiatives on the B2C side, we are seeing a substantial improvement in profitability. With continued strength in domestic demand, I am confident that we are well-positioned on our 2X-3Y strategy path." Result PDF12-02-2024