Pumps maker KSB Ltd March qtr profit grows 8 pc to Rs 43 cr

KSB Ltd., a pumps and valves manufacturer, saw a 7.75% increase in net profit to Rs 43.1 crore for Q1 2024, fueled by an 11.2% rise in sales revenue to Rs 544.2 crore. Expansion efforts include a project for solar water pumping systems under PM-Kusum scheme.

Pumps and valves maker KSB Ltd has reported a 7.75 per cent growth in net profit to Rs 43.1 crore for the quarter ended March 31, 2024.

It had clocked a net profit of Rs 40 crore in the year-ago period, the company said in a statement on Saturday.

The company follows January to December as financial year.

During the quarter under review, the company's expenses rose to Rs 483.3 crore from Rs 432.4 crore a year ago.

Sales revenues rose to Rs 544.2 crore from Rs 489.6 crore.

“This quarter we have registered a steady growth in sales revenue, which is 11.2 per cent higher than that of the corresponding Q1 2023 quarter. Our recent venture into the light water application of nuclear plant segment highlights our ongoing expansion efforts,'' Prashant Kumar, Vice President of Sales and Marketing, KSB said.

The company has received a letter of award for a project worth Rs 63 crore under PM-Kusum scheme from Maharashtra Energy Development Agency for installation of 2,500 solar water pumping systems.

Part of Germany-based KSB Group, KSB Ltd is a leading manufacturer of pumps and valves.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)