Shares of KRBL Ltd. climbed over 6% on Friday, August 14, after the basmati rice maker reported a strong improvement in profitability for the June quarter, despite a decline in revenue.
The company’s consolidated net profit jumped 73.16% year-on-year to ₹260.74 crore from ₹150.58 crore.
Revenue declined 5.6% YoY to ₹1,496 crore from ₹1,585 crore.
EBITDA rose 59.7% YoY to ₹307.58 crore from ₹192.65 crore, while the EBITDA margin expanded to 20.56% from 12.16%.
Agri revenue declined 5% YoY to ₹1,492 crore, largely due to a sharp drop in exports. Domestic revenue within the segment rose around 15% YoY to ₹1,248 crore, while export revenue fell nearly 50% to ₹244 crore.
Despite the decline in revenue, Agri EBIT margin expanded significantly to 22.5% from 11.5% a year earlier.
Other income also doubled to ₹64 crore from ₹32 crore in the year-ago quarter.
