Tilaknagar Industries’ net profit rises impressively
Tilaknagar Industries Limited has delivered an impressive performance, reporting a remarkable 130 percent increase in its net profit, which surged to Rs. 32 crore during the quarter ending in September 2023. This achievement represents a substantial improvement over its previous year’s performance when the company’s profit after tax (PAT) stood at Rs 13.9 crore for the corresponding quarter.
Tilaknagar Industries has also witnessed a substantial 29.1 percent surge in its net revenue during July-September quarter, reaching Rs 354.4 crore during the July-September 2023 quarter, as compared to Rs 274.5 crore in the same period one year ago.
In the quarter under review, Tilaknagar Industries’ Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) reached Rs 47.4 crore, marking a 50.9 percent year-on-year growth compared to Rs 31.4 crore in the corresponding quarter over the previous year.
During the quarter ending in September 2023, Tilaknagar Industries experienced a boost in its sales volumes, reaching 28.5 lakh cases, a substantial increase from 24.3 lakh cases during the corresponding period in the previous year.
Tilaknagar Industries’ flagship brand, Mansion House, continues to be a key driver of the company’s growth, enabling the company to gain a greater market share in the brandy segment across different regions. Additionally, the company’s pioneering innovation under the Mansion House brand umbrella, the premium flavoured brandy known as “Flandy,” has met with a positive market response and is contributing to the overall sales volumes.
As of 30th September 2023, Tilaknagar Industries’ net debt reduced to Rs 141 crore, reflecting a significant decline from Rs 269 crore in the corresponding time of the previous year. Notably, the company has managed to reduce its net debt by Rs 350 crore over the past two-and-a-half years.
