Gravita India Q1 Results: Net Profit Rises Nearly 30%, Operating Income Jumps 50%
The Ebitda margin expanded to 9.7% from 8.3% in the same period the previous year.
Gravita India Ltd. reported a 29.4% rise in its net profit for the first quarter of this financial year.
The industrial minerals company recorded a net profit of Rs 68 crore for the quarter ended June, compared to Rs 53 crore in the same quarter of the previous fiscal year, according to its stock exchange notification.
Revenue rose by 29% year-on-year for the three months ended June, reaching Rs 909 crore against Rs 703 crore during the same period last year.
Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 50% year-on-year to Rs 88 crore. The Ebitda margin expanded to 9.7% from 8.3% in the same period the previous year.
The company is firmly advancing towards its objective of boosting capacity to over five lakh million tonnes per annum with a capex of over Rs 600 crore by financial 2027, Yogesh Malhotra, whole time director and chief executive officer said in the investor presentation.
"Gravita is committed to meeting its short-term, mid-term, and long-term targets outlined in the company's ESG Roadmap by Fiscal 2026-27, 2023-24 and 2049-50, respectively showing its focus on sustainable growth and creating a positive impact."
Shares of Gravita India closed 4.73% lower at Rs 1,330.1 on Friday compared to 1.09% decline in the benchmark NSE Nifty 50.
