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HomeNewsFinancial/Policy NewsBigBloc Construction's net profit up 81.56% in Q3 FY23

BigBloc Construction’s net profit up 81.56% in Q3 FY23

BigBloc Construction's total consolidated income stood at Rs 49.54 crore in Q3 FY23, a dip of 6.32 per cent from Rs 52.88 crore it recorded in the similar quarter last year.

BigBloc Construction, manufacturer of Aerated Autoclaved Concrete (AAC) blocks, bricks and panels, has reported a growth of 81.56 per cent in its net consolidated profit during the quarter ended December 31, 2022. Its profit after tax (PAT) stood at Rs 7.68 crore in Q3 FY23 as against Rs 4.23 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s total consolidated income stood at Rs 49.54 crore in Q3 FY23, a dip of 6.32 per cent from Rs 52.88 crore it recorded in the similar quarter last year.

The company plans to set up two greenfield plants with combined capacity of 8 lakh cubic meter per annum-5 lakh cubic meter per annum plant at Wada, Palghar and 3 lakh cubic meter per annum in joint venture with Thailand’s SCG Group in Kapadvanj, near Ahmedabad.

Post completion of both expansion, company’s total capacities will increase to 13.75 lakh cubic meter per annum . It also expects to generate around 2.5 to 3 lakh tons of carbon credit every year post the expansion.

For the nine months ended December 2022, company reported consolidated net profit of Rs. 24.67 crore growth of 186.7% year-on-year as compared to the net profit of Rs. 8.60 crore during nine months of FY22. Total income during nine months of FY23 was reported at Rs. 153.70 crore, rise of 25.3% year-on-year as compared to total income of Rs. 122.68 crore reported during nine months of FY22.

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