Shares of Kajaria Ceramics Ltd. gained after its profit rose in the March ended quarter, aided by a reduced cost of raw materials.
Net profit rose 4.7 percent to Rs 72.2 crore over the year-ago period, according to the company’s exchange filing. The profit met the Bloomberg consensus estimate of Rs 69 crore.
The vitrified tiles and bathroom fittings maker’s revenue rose 8.9 percent to Rs 804 crore. Cost of raw materials fell 3.2 percent to Rs 180 crore.
Profitability margins contracted to 16.2 percent from 18.1 percent over the year. Earnings before interest, tax, depreciation and amortisation (EBITDA) also fell 2.5 percent to Rs 130.3 crore, as per BloombergQuint’s calculations.
The company’s board announced a final dividend of Rs 3 per equity share.
The stock rose as much as 2.6 percent to Rs 704 after the announcement.