AGL Cuts Net Loss, Eyes Impressive Turnover with Ranbir Kapoor as Brand Ambassador

Asian Granito India Ltd (AGL) significantly reduced its net loss to Rs 5.46 crore in Q4 FY24, leveraging operational efficiency and lower expenses. Despite a decrease in revenue, AGL aims for a Rs 6,000 crore turnover with strategic expansion. Bollywood actor Ranbir Kapoor is their new brand ambassador.

Bathware and tiles manufacturer Asian Granito India Ltd (AGL) has reported narrowing its consolidated net loss to Rs 5.46 crore in the quarter ending March 2024 helped by increased operational efficiency and lower expenses.

It had reported a loss of Rs 48.17 crore in the January-March quarter of 2022-23, the company said in an exchange filing on Thursday.

The Ahmedabad-based company's revenue from operations was down 7.05 per cent to Rs 423.63 crore during the latest fourth quarter as compared to Rs 455.75 crore in the year-ago period.

Its total expenses dropped 17.5 per cent to Rs 427.89 crore in the fourth quarter of FY24 as against Rs 518.84 crore a year ago.

However, on a standalone basis AGL has reported a profit of Rs 9.06 crore, coming back in black in the March quarter. For the fiscal year 2023-24, AGL said its net loss narrowed to Rs 19.90 crore as against Rs 86.90 crore a year ago. ''The company closed Q4 and FY24 on a high note, achieving better operational and financial performance, indicating a significant improvement,'' AGL Chairman and Managing Director Kamlesh Patel said. He said the company aims for a turnover of Rs 6,000 crore in coming years on the back of strategic expansion plans.

The company has signed Bollywood actor Ranbir Kapoor as a brand ambassador.

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