Kamdhenu reports 66 pct increase in net profit during Q2 2018-19

Leading TMT bar maker Kamdhenu Tuesday said its net profit jumped 66.13 per cent to Rs 5.20 crore during the quarter ended September 30, 2018, helped by higher income.

The company had clocked Rs 3.13 crore net profit during the same period a year ago, Kamdhenu said in a BSE filing.

During the quarter, the company's total income rose 22.44 per cent to Rs 332.20 crore, compared with Rs 271.30 crore in the year-ago period.

Its expenses increased to Rs 324.14 crore, against Rs 266.45 crore in the July-September period of 2017-18.

In a conference call, Kamdhenu Chairman and Managing Director Satish Agarwal said: "In September quarter, sales were about 25 per cent higher at 5,11,000 tonne as compared to 4,10,000 tonne in the year-ago quarter."

On the outlook for the domestic steel sector, Agarwal said huge opportunities are coming up due to high growth in real estate and construction sectors, supported by various steps taken by the government to achieve its Housing for All objective by 2022.

Shares of the company rose 5.56 per cent to close at Rs 188.10 apiece on the BSE.

(With inputs from agencies.)