Varmora Granito posts profit tripling to 44cr and income 402.6cr
Business
Varmora Granito just posted a big win this quarter, with net profit jumping to ₹44 crore, more than triple what it made last year.
Revenue from operations also grew by 9%, hitting ₹399 crore, and total income reached ₹402.6 crore.
Varmora Granito EBITDA rises to 68.3cr
EBITDA rose 19% to ₹68.3 crore, boosting margins to 17%.
Even though exports dipped (thanks to higher freight costs and tensions in West Asia), Varmora's domestic sales climbed by 9%.
After its IPO in late September, the company saw a strong 27% revenue jump from last quarter.
It is also expanding into Northeast India with a new Assam facility and has stopped manufacturing ceramic tiles at its Solaris unit and plans to upgrade the facility to produce glazed vitrified tiles instead.