Friday, January 30, 2009

BWI: Kajaria Ceramics Limited - Summary of Financial Performance for Q3 / 9 Months, FY 2008-2009

Press release from Business Wire India
Source: Kajaria Ceramics Ltd
Friday, January 30, 2009 05:09 PM IST (11:39 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Construction, Financial Analyst, Real estate, Stock exchanges
Release no: 19102
Kajaria Ceramics Limited - Summary of Financial Performance for Q3 / 9 Months, FY 2008-2009

New Delhi, Delhi, India, Friday, January 30, 2009 -- (Business Wire India) -- Kajaria Ceramics Limited (KCL), India's leading ceramic tile manufacturer in India, announced its results for Q3 FY2009/Nine Months FY2009.

Results overview 3rd Quarter/ 9 Months Year Ended December 2008 Vs December 2007:

Total Income from operations increased 20% to Rs.163.16 crores from Rs.136.27 crores reported in the corresponding quarter. For the 9 Months ended it increased by 38% to Rs.501.73 crores from Rs.363.94 crores reported in the corresponding 9 months period.

EBIDTA for the quarter grew to Rs.23.58 crores from Rs.21.79 crores showing a growth of 8%. The EBITDA for the 9 months period ended December 2008 has increased to Rs 67.70 crores from Rs. 63.17 crores with a growth of 7%.

The Net Profit after tax in the present quarter were at Rs. 0.19 crore as against Rs. 3.12 crores in the corresponding previous quarter. The Net Profit after tax during current 9 months period stood at Rs. 8.33 crore as against Rs. 10.36 crore in the corresponding period of previous year.

The decline in net profit in the current quarter has arisen because of increase in Interest cost due to sudden rise in cost of overseas refinance credit and the foreign currency rate fluctuation with regard to import business. Going forward the company expects decline in the interest cost because of falling inflation and improved liquidity situation in the country and stablised overseas credit cost.

Commenting on the performance for the period ended December 2008, Mr. Ashok Kajaria, Chairman, Kajaria Ceramics Limited, said: "We are gearing up to address the challenges thrown up by the continually evolving environment. We are in the process of consolidating our businesses across all the segments. We expect the initiatives taken by us would lead us to establish ourselves as much stronger and vibrant company, addressing the needs of its stakeholders across the categories."

About Kajaria Ceramics Limited:

Kajaria Ceramics is the largest manufacturer of ceramics tiles in India. It has an annual capacity of 21 mn. Sq. mtr. distributed across two plants - Sikandrabad in Uttar Pradesh and Gailpur in Rajasthan. The company has received the ISO 9001 (for quality management), ISO 14001 (environment management), OHSAS 18001 (for safety and health management) and SA-8000 (for commitment to society) certifications across its plant.

Vikas Mahajan, Mutual PR, +91 9953619912,
Amit Arora, Mutual PR, +91 9811154140,


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