Murugappa Group Achieves 15.2% Growth In Profit For Fiscal 2024
Meanwhile, the Return on Capital Employed for the manufacturing entities fell to 21.3% this year, down from 27.9% last year.
The Murugappa Group has announced a 15.2% increase in its profit after tax for the fiscal year ending March 31, 2024, amounting to Rs 7,885 crore.
The Mumbai-based diversified conglomerate had recorded a profit after tax of Rs 6,846 crore in the same period the previous year.
The group's turnover for the fiscal year ending March 31, 2024, increased by 4.9% to ₹77,881 crore, up from ₹74,220 crore recorded a year earlier.
Earnings before interest, taxes, depreciation, and amortisation saw a 10.8% rise, reaching ₹11,554 crore, compared to ₹10,426 crore in the corresponding period of the previous year.
In a statement on Monday, the company announced that the return on equity for its financial services business saw a slight increase to 19.2% this year, up from 19% the previous year.
Meanwhile, the return on capital employed for the manufacturing entities fell to 21.3% this year, down from 27.9% last year.
The manufacturing entities of the Group generated a free cash flow of Rs 1,229 crore which stood at 31 per cent of the profit after tax reported by the companies.
The aggregate capital expenditure programme towards expansion, debottlenecking, infrastructure facilities across group companies were about Rs 3,129 crore during the year as compared to Rs 1,592 crore registered year ago.
(With PTI Inputs)
