Shares of Kirloskar Oil Engines are down as much as 10 percent on February 13, following a 21 per cent (YoY) decline in consolidated net profit for Q3FY25.
The shares of Kirloskar Oil Engines are at Rs 769.75 as of 11:45 am, which is 2.68 percent lower.
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Kirloskar Oil's December quarter result showed a 21 per cent decline in net profit at Rs 71.3 crore against Rs 89.82 crore in the previous year's corresponding quarter. Q3FY25 revenue rose by 4.5 per cent to Rs 1,453.7 crore over Rs 1,391.3 crore seen in the third quarter a year ago.
The company's third quarter standalone EBITDA fell by 9 per cent to Rs 117 crore, while it was Rs 128 crore a year ago. EBITDA margin was at 10.1 per cent against 11.3 per cent in the same quarter a year ago.
"On the business-to-business (B2B) side, as expected, we faced muted demand in our Powergen business post the emission norms transition," Gauri Kirloskar, managing director, Kirloskar Oil Engines said.
"On the business-to-consumer (B2C) side, we have successfully completed the consolidation of five plants into 1, which saw some impact on production. We will stay watchful of the trends developing in the power generation market and expect that demand will return to earlier levels in the next couple of quarters," she added.
Kirloskar Oil Engines manufactures internal combustion engines, farm equipment and generator sets, and has significant hold in few international markets. It manufactures engines for construction equipment and specialises in air-cooled and liquid-cooled engines for generator sets across a wide range of power outputs (2kVA to 3000 kVA).
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