Kajaria Ceramics announces result for FY17
Kajaria Ceramics has reported a 7.5% increase in its consolidated net profit during the financial year 2017. Company’s net profit stood at Rs 253.81 crore during the said period.
Total income for 2016-17 was Rs 2869.87 crore, a 5.85% increase from the previous fiscal.
Its net income during the Q4 2016-17 was Rs 812.02 crore as against the Rs 743.37 crore it recorded in the same quarter previous year. Company’s net income grew by 9.25%.
Kajaria’s net profit also increased during the quarter ending March by 4.72%. It recorded a profit of Rs 70.70 crore during the said period.
Company’s Board of Directors also gave nod to acquisition of 1,90,000 equity shares of Rs 100 each of Floera Ceramics, a subsidiary company, at a consideration aggregating to Rs. 3.61 crore. The acquisition of shares will take around 2 months to complete.
The company also announced expansion plan for its existing manufacturing capacity at Gailpur, Rajasthan which is expected to be complete by September, 2017.