New Delhi, Jul 25 (PTI) TMT bars maker Kamdhenu Ltd's net profit before tax (PBT) from the steel business edged up to Rs 13.5 crore in the April-June quarter of 2022-23 from Rs 13.3 crore in the year-ago period.
Total revenues rose by 70 per cent to Rs 191.2 crore in April-June FY23 from Rs 112.7 crore in the year-ago quarter, Kamdhenu said in a statement.
The Chandigarh bench of the National Company Law Tribunal (NCLT) through its order dated June 3, 2022, has approved the de-merger of the company's paints business into a separate entity. The scheme of arrangement has become effective on July 18, 2022, the company said.
Satish Kumar Agarwal, Chairman & Managing Director said: "Q1 demonstrated strong performance despite high commodity prices. This was on account of increased construction activities due to government push for infrastructure development. Focus on development of roads, railways, PM AWAS Yojana shall lead to demand creation for steel products."
The revenues from the company's paints business increased by 65 per cent year on year (y-o-y) to Rs 54.7 crore during the quarter.
Gurugram-headquartered Kamdhenu is a manufacturer and seller of TMT bars. PTI ABI MR