NE BUSINESS BUREAU
BENGALURU, FEB 10
Kennametal India Limited (KIL) on Friday said its second quarter of FY23, ended December 31, 2022, registered a continued growth, riding on the recovery in automotive and core infrastructure sectors. Sales grew to ₹ 2748 Mn, 15% higher as compared to the same quarter last fiscal. Profit Before Tax (PBT) was ₹ 296 Mn, down 27% over the same quarter, last fiscal. The company delivered strong performance in Hard Metals, while the Machine Tools segment saw a decline in its export revenue, mainly from China.
“We are encouraged by the resiliency of our end markets and our expectations for the full year remain largely the same.” – Christopher Rossi, President & CEO #earnings
Read more about our Q2 FY23 #financial results: https://t.co/zBHsQNxNVR pic.twitter.com/tMSdKkftLa
— Kennametal (@Kennametal) February 7, 2023
Commenting on the results, Vijaykrishnan Venkatesan, Managing Director, KIL said, “During the quarter, our sales continued to grow through focus on innovation and delivering customer centric solutions. This quarter we also celebrated Kennametal’s new Metal Cutting inserts manufacturing facility on its Bengaluru, India campus. This facility will further augment our capabilities in meeting the needs of diverse and high growth market segments in India, including transportation, aerospace, general engineering and energy. Alongside, we continue to drive our strategic priorities and operational efficiencies to deliver on our financial performance.”
