Cera Sanitaryware’s net profit grows 12.24% in Q2 FY24, Real Estate News, ET RealEstate
NEW DELHI: Cera Sanitaryware, a sanitaryware and faucetware company, has reported a growth of 12.24 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 57.39 crore as against Rs 51.13 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 476.23 crore in Q2 FY24, a growth of 11.66 per cent from Rs 426.51 crore it recorded in the similar quarter last year.
Vikram Somany, chairman & managing director of the company said, “Our sanitaryware and faucetware divisions, which contributed 51% and 36% to our Q2 FY24 revenue, registered an increase of 4.3% and 15.7%, respectively. Over the past three years, we have introduced over 1,000 new products, which contributed 29% of revenue in Q2 FY24.”
During the quarter, the company commissioned the brownfield faucetware capacity on September 25, 2023. As of September 30, 2023, its cash and cash equivalents totaled Rs. 751 crore.
