Kennametal India Sept first quarter profit at Rs 32 cr

NEW DELHI: Kennametal India Ltd (KIL) has posted 11 per cent jump in consolidated net profit at Rs 31.5 crore for the first quarter ended September 30, 2022 mainly on account of higher income.

Its net profit in the year-ago period stood at Rs 28.3 crore, the Bengaluru-based company said in a statement on Friday.

The company, which is a subsidiary of the US-based Kennametal Inc, follows July-June as its financial year.

Total income of the company during July-September 2022 rose to Rs 268.5 crore from Rs 239.3 crore in the year-ago period.

Total expenses stood at Rs 229.4 crore as against Rs 201.5 crore in July-September 2021.

''Despite various headwinds in the quarter, our focus remains on the execution of commercial and operational excellence initiatives, as well as delivering on customer commitments, while managing costs and improving efficiency.

''We continue to innovate, introduce new products, solutions and applications for our customers to improve their productivity,'' KIL Managing Director Vijaykrishnan Venkatesan said.

Kennametal India manufactures hard metal products and machine tools for use in the manufacturing, auto, and general engineering industries.