Kajaria Ceramics' net profit grows 10% in Q3 FY19
Kajaria Ceramics registered a 10 per cent growth in its net profit during the financial quarter ended 31 December 2018. Its profit after tax (PAT) stood at Rs 65.58 crore as against Rs 59.58 crore it recorded in Q3 FY18, the company said in a BSE filing. The company's net income was Rs 709.05 crore in Q3 FY19 as against Rs 629.21 crore it reported in similar quarter last year. The board of directors have recommended the continuation of Debi Prasad Bagchi and Raj Kumar Bhargava as independent directors of the company till calendar year 2022. "During the quarter, sanitaryware segment attained optimum capacity utilisation while the capacity utilisation of faucet plant increased to 73% in Q3 FY19 as compared to 48% in FY 2017-18," said Ashok Kajaria, chairman of the company. The company however has delayed its plan to expand the manufacturing capacity of polished vitrified tiles at the existing facility at Malutana, Rajasthan. The expansion from 6.50 MSM per annum to 12.10 MSM per annum will now be made by March 31, 2020.
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