Kirloskar Pneumatic Company’s shares surge 12.10% on stronger revenue, profit in FY24

stock analyst • • US stock market

Kirloskar Pneumatic Company Ltd’s shares surged 12.10 per cent after the company announced its financial results for FY24, reporting a 7 per cent growth in revenue and a 25 per cent growth in profit before tax as compared with the earnings in FY23. The company’s net profit after tax has increased by over 23 per cent. KPCL declared a final dividend of 200 per cent at ₹4 per share, in addition to the interim dividend of 125 per cent, bringing the total dividend to ₹6.50 per share (325 per cent).

Kirloskar Pneumatic Company Ltd’s shares surged 12.10 per cent after the company announced its financial results for FY24, reporting a 7 per cent growth in revenue and a 25 per cent growth in profit before tax as compared with the earnings in FY23. The company’s net profit after tax has increased by over 23 per cent. KPCL declared a final dividend of 200 per cent at ₹4 per share, in addition to the interim dividend of 125 per cent, bringing the total dividend to ₹6.50 per share (325 per cent). 

Also read: Kirloskar Pneumatic Company posts 9% income growth in Q3In Q4 FY24, KPCL recorded sales of ₹490 crore, representing a 59 per cent growth quarter-on-quarter. For the full year, sales were at ₹1,239 crore, witnessing a 7 per cent growth year-on-year. The company’s order book as of March 31, 2024, stood at ₹1,475 crore, reflecting a 28 per cent growth compared to the same period last year. 

KPCL also entered an agreement with PDC Machines LLC, USA, to offer Diaphragm Compressor packages for various industries and applications, addressing the emerging opportunities in Hydrogen compression. Financially, KPCL reported revenue from operations of ₹1,323 crore for FY24, compared to ₹1,239 crore for FY23, marking a 7 per cent growth year-on-year. The EBIDTA for FY24 was at 16 per cent (₹213 crore). 

The shares were up by 12.10 per cent to ₹892 at 3.41 pm on the BSE. 

Like (0)
stock analyststock analyst
Previous April 26, 2024 4:35 pm
Next April 26, 2024 4:35 pm

Related posts

  • Will the Bank of England cut interest rates in June or August? You might find out tonight!

    On Thursday, Bank of England Governor Bailey is likely to send a stronger signal on when the central bank can cut borrowing costs from a 16-year high

    US stock market May 9, 2024

  • Techno Electric & Engineering secures new orders for ₹4,063 crore; stock surges 5%

    Techno Electric & Engineering has bagged new orders for ₹4,063 crore. The stock surged 5.22 per cent on the NSE as of 1.21 pm to trade at ₹1,020.

    US stock market April 29, 2024

  • Standard Chartered: Bitcoin will reach $150,000 by the end of the year

    Gelonghui, April 25 | Geoff Kendrick, a well-known crypto friend and head of digital asset research at Standard Chartered, said in an interview last week that cryptocurrencies are facing a bullish setting, and their upward trend may be rekindled. The price of Bitcoin may still increase by 1% this year. More than times. Reiterates Bitcoin price target of $150,000. Kendrick estimates that the spot Bitcoin ETF has attracted about $12 billion since it was approved for listing in January. Despite the temporary cautious attitude of retail investors, once the U.S. cryptocurrency ETF market becomes more \”mature,\” inflows may increase to $50 billion to $100 billion in the next two years. He also said that after the completion of the new round of \”halving\”, Bitcoin also seems to be on a bullish trajectory. Halving refers to the reduction of the reward amount for Bitcoin miners by half, resulting in a reduction in the size of new Bitcoins entering circulation. Traditionally, this would cause Bitcoin prices to surge. Looking back at the past three halvings, the price of Bitcoin always hit a…

    US stock market April 25, 2024

  • U.S. CPI rose 3.4% year-on-year in April Data shows #The probability of the Federal Reserve cutting interest rates in September is about 68%

    Reprinted from: CCTV Finance On the 15th local time, data released by the U.S. Department of Labor showed that the U.S. Consumer Price Index (CPI) rose by 3.4% year-on-year and 0.3% month-on-month in April, in line with market expectations.

    US stock market May 15, 2024

  • AMC announces it will issue 23 million shares, stock price drops sharply

    On the evening of the 15th, Beijing time, AMC Cinemas fell sharply in U.S. stocks in early trading on Wednesday after the movie theater chain announced that it would issue more than 23 million shares in exchange for its 10%/12% cash/PIK Toggle second lien due in 2026. The aggregate principal amount of subordinated notes is US$163,850,000

    US stock market May 15, 2024

  • Yihua Shares: Net profit in the first quarter of 2024 was 86.6785 million yuan, a year-on-year increase of 456.11%

    CSI Intelligent Financial Information Yihua Co., Ltd. (002897) disclosed its first quarter report for 2024 on April 26. In the first quarter of 2024, the company achieved total operating income of 1.529 billion yuan, a year-on-year increase of 63.18%; net profit attributable to the parent company was 86.6785 million yuan, a year-on-year increase of 456.11%; non-net profit after deducting 81.5985 million yuan, a year-on-year increase of 705.72%; generated from operating activities Net cash flow was 6.909 million yuan, compared with -32.6879 million yuan in the same period last year; during the reporting period, Yihua Shares\’ basic earnings per share was 0.51 yuan, and the weighted average return on net assets was 4.89%.

    US stock market April 25, 2024