Kennametal India Profit Before Tax Up 12.8% For Quarter Ended Dec 31, 2023

Kennametal India Limited (KIL) reported its second quarter FY24 results (ended December 31, 2023), with a marginal drop in sales, while Profit Before Tax (PBT) was up 12.8% over same quarter last year.

Sales were ₹ 2,708 Mn, 1.5% lower as compared to ₹ 2,748 Mn in the same quarter last fiscal year. Profit Before Tax (PBT) was ₹ 334 Mn, 12.8% higher as compared to ₹296 Mn in the same quarter last fiscal year.The overall sales were affected by softening market conditions, impacting both the Hard Metals and Machine Tools segments.

Commenting on the results, Vijaykrishnan Venkatesan, Managing Director, KIL said, “Our focus on operational efficiency has helped improve our profitability both sequentially and on a year-over-year basis. As we leverage a profitable product mix, focus on share gain in high growth segments and new territories, and delivering value to customers through a ‘full solutions’ approach, we are well poised to drive sales and improve profitability.”