Mumbai: In the first quarter of 2024-25, Asian Granito India, a top manufacturer of luxury surfaces and bathware products, became profitable with a consolidated profit of Rs 30 lakh, a significant improvement from the loss of Rs 3.6 crore in the previous year. In a statement, the company reported that its consolidated net sales increased by 3 pc to Rs 343.2 crore in the April-June quarter of the current fiscal, up from Rs 334.8 crore in the first quarter of FY24, leading the recovery.
The company reported EBITDA of Rs 16.1 crore for the current quarter, compared to Rs 9.6 crore in the same period last year. Asian Granito India Chairman and MD Kamlesh Patel highlighted that the company's dedication to growth is evident through strategic moves like the Morbi expansion, AGL demerger, increased focus on retail presence, showroom expansion, and more.The company announced it will spend approximately Rs 73 crore to establish a large display center and office in Ahmedabad.
During the preclose session, the company's shares were trading at Rs 76.64 on BSE, showing a 2.27 pc increase.
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