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Sanitaryware maker, Cera Sanitaryware Limited registered a standalone net profit at ₹42 crore for the quarter ended September 30, 2021, a 60-per cent jump over ₹26 crore in the same quarter last year.
Company’s revenues from operations stood at ₹393 crore for the quarter as against ₹318 crore last year.
Standalone EBITDA increased by 43 per cent to ₹58 crore during the quarter as against ₹40 crore in the comparable period last year.
On a consolidated basis, company’s net profit stood at ₹44 crore for the quarter as against ₹23 crore in the corresponding quarter last year. Consolidated revenues from operations stood at ₹403 crore as against ₹324 crore last year.
The strong performance is attributed to the tailwind that supported the broader industry. Vikram Somany, Chairman & Managing Director attributed the growth to benign interest rates, and the pandemic-induced preference for larger spaces, supported by government incentives for the real estate sector. “Customer inclination towards home upgradation and home improvement is serving to sharply elevate demand for our products. We are focused on serving this demand by actively managing our production to operate at high utilization levels,” Somany added.
Company’s steady investment flows and upgradation of manufacturing capabilities over the last few years has helped it stay insulated from supply chain disruptions witnessed across the industry due to constraints on imports.
Somany admitted to the challenges from the increase in costs of certain inputs like natural gas and metals.
Cera Sanitaryware stocks ended positive at ₹5,467.60, up 3.2% on BSE on Wednesday.