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Profit before tax rose by 59.30% year on year to Rs 138.78 crore in the quarter ended 30 June 2023. Additionally, the EBITDA for the same period was Rs 153 crore, showing a 48% increase from the previous year's quarter. EBITDA margin stood at 12.1% for Q1 FY24 vs 10.8% for Q1 FY23.
Total expenses rose 30.20% to Rs 1,134.33 crore in Q1 June 2023 over Q1 June 2022. During the quarter, cost of materials consumed stood at Rs 634 crore (up 30.67% YoY) while employee benefits expense was at Rs 66 crore (up 18.48% YoY).
Gauri Kirloskar, managing director, commented on the company's Q1 FY2024 results, saying, "Across the spectrum of KOEL's Powergen products, we have successfully secured CPCB IV+ emission norms certification, making us the first company in India to achieve comprehensive certification for our entire range.
This quarter witnessed substantial advancements in our B2B product lineup, marked by noteworthy product introductions and range expansions. We are excited to enter the HHP range with the introduction of our OptiPrime range, designed with a strong focus on segments such as data centers and infrastructure. OptiPrime is designed to address fluctuating power requirements of our customers by offering enhanced flexibility and lowering emissions.
Meanwhile, on the B2C front (at a consolidated level), we continue to make improvements in profitability. This quarter, we delivered a 15% growth in profit on a 4% growth in topline."
Kirloskar Oil Engines (KOEL) is a leading manufacturer of engines, farm equipment, and generator sets. The company has a sizable presence in international markets and also manufactures engines for construction equipment.
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