Kajaria Ceramics has reported a growth of 17.37 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 109.11 crore in Q1 FY24 as against Rs 92.96 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 1,073.49 crore in Q1 FY24, a growth of 5.63 per cent from Rs 1,016.31 crore it recorded in the similar quarter last year.
The board of directors approved additional acquisition upto 18% equity shares of Rs 10 each (i.e. 16,38,368 equity shares) of Kajaria Infinity, a subsidiary company, at a consideration aggregating upto Rs 16.39 crore. Its turnover as on March 31, 2023 was Rs 168.65 crore. The acquisition is expected to be complete in six months.
Presently, the company holds 77% equity shares in Kajaria Infinity and after completion of the proposed acquisition of 16,38,368 equity shares, holding of the company in the equity shares of Kajaria Infinity would be increased upto 95%.