Kennametal India Ltd. reported a 42% decline in net profit for the quarter ended March from the year-earlier interval to ₹16 crore.
Revenue from operations elevated 4% to ₹256 crore, whereas value of supplies consumed contracted by 6% to ₹69 crore, the corporate stated in a regulatory submitting.
While the Hard Metals section witnessed development, there was an influence due to manufacturing underneath absorption. The Machine Tools section gross sales noticed a decline in export income due to a slower reopening in China, the corporate stated.
“During the quarter, we benefitted from price realisation, volume growth, easing of supply chain constraints and resilience in our end markets of transportation, aerospace, energy, construction, mining and general engineering,” stated MD Vijaykrishnan Venkatesan.
The board declared an interim dividend of ₹20 per share, which might be paid by May 25.
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