Friday, 15 September 2017

Kamdhenu Q1 profit jumps 45% to Rs 2.76 crore

Kamdhenu Ltd, one of the largest sellers of branded TMT bars, has posted a 45% rise in net profit in the first quarter ended June 30, 2017 (Q1 FY18) to Rs 2.76 crore over previous corresponding period. The company’s revenues went up 23% in Q1FY18 to Rs 235.72 crore over same period last year, led by higher volume of sales and an increase in steel prices during the quarter under review. 

The company said it managed to increase sales volume by almost 12% in April-June 2017 despite a downtrend in domestic steel industry which has seen poor demand from housing and real sector where the company’s main product, TMT bars are used in construction activity. 

“We are focused on further expanding the reach of Kamdhenu brand and in the process we have managed to convert a portion of the unorganized segment of the industry into organized one by providing them with quality and technology and marketing support, Agarwal pointed out. 

Sharing his future outlook, Agarwal said with onset of festive season and normalization of operations post GST implementation, we expect strong recovery in demand from real estate and infrastructure sectors. “This trend is likely to strengthen further with increase in construction activity in ruburban India due to good monsoon and increased demand for structural steels for large infrastructure projects,” Agarwal added. 

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