Kennametal India Ltd announces Q2FY23 results

Kennametal India Limited (KIL) concluded its second quarter of FY23 (ended December 31, 2022), registering a continued growth, riding on the recovery in automotive and core infrastructure sectors. Sales grew to ₹ 2748 Mn, 15% higher as compared to the same quarter last fiscal. Profit Before Tax (PBT) was ₹ 296 Mn, down 27% over the same quarter, last fiscal. The company delivered strong performance in Hard Metals, while the Machine Tools segment saw a decline in its export revenue, mainly from China.

Commenting on the results, Vijaykrishnan Venkatesan, Managing Director, KIL said, "During the quarter, our sales continued to grow through focus on innovation and delivering customer centric solutions. This quarter we also celebrated Kennametal's new Metal Cutting inserts manufacturing facility on its Bengaluru, India campus. This facility will further augment our capabilities in meeting the needs of diverse and high growth market segments in India, including transportation, aerospace, general engineering and energy. Alongside, we continue to drive our strategic priorities and operational efficiencies to deliver on our financial performance."

Shares of Kennametal India Limited was last trading in BSE at Rs. 2367.65 as compared to the previous close of Rs. 2373.20. The total number of shares traded during the day was 746 in over 254 trades.

The stock hit an intraday high of Rs. 2391.50 and intraday low of 2343.75. The net turnover during the day was Rs. 1764802.00.

Source : Equity Bulls

Keywords

KennametalIndia INE717A01029 Q2FY23 H1FY23 ResultUpdate