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Kennametal India net profit up by 31 per cent in third quarter

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The company board announced a dividend of ₹24/- per share for FY22

Bengaluru, May 12 Kennametal India Ltd (KIL) a subsidiary of Kennametal Inc USA, has reported a 31.4 per cent growth in net profit to ₹27.6 crore for the third quarter March 31, 2022 compared to the corresponding quarter in the previous year. It recorded revenues of ₹245.7 crore in the three-month period Jan-March this year compared to₹227.9 crore during the same period of the previous year, an increase of 7.8 percent.

The company delivers productivity to customers through materials science, tooling and wear-resistant solutions. Kennametal which runs its financial year from July to June reported ₹729.3 crore in revenue for the nine months ended March 31, 2022 compared to ₹606.6 crore for the same period in the previous year.

Commenting on the results, Vijaykrishnan Venkatesan, Managing Director, KIL said, “Our performance has been consistent as we have clocked growth over a strong base last year amid the prevailing market uncertainties. With commodity prices witnessing an unprecedented surge and industries grappling with various supply chain constraints, we continue to remain focused on diversifying our customer base, growing through new product launches to enhance customer value, and augmenting our internal efficiencies.”

KIL has announced a 240 per cent Interim dividend of ₹24/- per share for FY22 as against ₹20/- per share for FY21. While the company declared its results after market hours, earlier in the day, shares of KIL were down by 1.58 percent and were trading at₹1,715.65 per share on BSE.

Published on May 12, 2022

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