Kesoram back in black with net profit of Rs 20.7cr in Q4FY19
Kolkata, May 15 (PTI) Kesoram Industries Ltd Wednesday
reported a net profit of Rs 20.75 crore for the quarter ending
March, 2019 on the back of improved revenues from its cement
business, after posting losses for 10 quarters.
The company reported a net loss of Rs 158 crore in
the corresponding quarter of FY18.
The company got current tax credit of Rs 11.95 crore
during the quarter.
Revenue from operations during the quarter under
review rose to Rs 1,036.58 crore against Rs 985.33 crore
registered in the Q4 of FY18.
The cement segment saw revenue growing to Rs 783 crore
during Q4FY19 from Rs 612 crore in the same period of
the previous fiscal.
However, the tyre business continued to slumber with
revenues declining to Rs 253 crore during the quarter from Rs
373 crore in the corresponding quarter of FY18.
Plans are afoot to demerge the tyre business as a part
of the restructuring exercise, targeted at reducing the debt
level which stands at about Rs 2,200 crore as on March, 2019.
The demerger is currently pending regulatory
approvals. PTI BSM