Craftsman Automation Q3 PAT jumps 37% YoY to Rs 52 cr

The auto ancillary company's consolidated net profit surged 37.26% to Rs 51.61 crore on 35.17% rise in revenue from operations to Rs 749.03 crore in Q3 FY23 over Q3 FY22.

Consolidated profit before tax stood at Rs 79.73 crore in Q3 FY23, recording a growth of 38.59% from Rs 57.53 crore posted in the corresponding quarter previous year.

Total expenses jumped 35.19% to Rs 674.12 crore in quarter ended 31 December 2022. Cost of sales and services was at Rs 400.65 crore (up 45.84% YoY) and employee benefit expenses stood at Rs 58.24 crore (up 8.86% YoY) during the quarter.

 

The company's revenue from Automotive-Powertrain & Others stood at Rs 408.44 crore (up 39.71% YoY), revenue from Aluminium Products was at Rs 175.85 crore (up 22.63% YoY) and revenue from Industrial & Engineering stood at Rs 164.74 crore (up 39.14% YoY) in Q3 FY23.

Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely automotive-powertrain and others, automotive-aluminum products, and industrial and engineering.

Shares of Craftsman Automation slipped 3.67% to Rs 3,352.15 on the BSE.

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