Kamdhenu Q2 results: PAT falls 61.5% to Rs 2.5 cr

New Delhi: TMT maker Kamdhenu Ltd on Monday posted a 61.50 per cent fall in its standalone profit after tax (PAT) at Rs 2.51 crore for the September 2020 quarter. It had clocked a PAT of Rs 6.52 crore during the corresponding quarter of the previous financial year, Kamdhenu Ltd said in a BSE filing.

The company's total income during July-September 2020 reduced to Rs 147.50 crore, from Rs 238.04 crore in the year-ago period.

The firm's expenses stood at Rs 143.65 crore, compared with Rs 233.82 crore a year ago.

In a statement, Kamdhenu Chairman and Managing Director Satish Kumar Agarwal said, "The onset of this fiscal had been quiet challenging for the whole industry on account of complete lockdown due to COVID-19."

He added that following partial shutdown of operations in the first quarter of 2020-21, weak demand and low sales, the second quarter has witnessed a sharp bounce back in business activities and a significant improvement in demand.

"We have witnessed strong recovery in demand for our products. We have clocked revenues of Rs 97.2 crore in Q2 FY21 from our steel business," Agarwal said.

He further said economic activity is gradually recovering in India. "With a gradual revival of the economy and unlocking of industries across India post COVID-19, activities in construction and various projects have picked up and demand in the domestic market has surged."

The Gurugram-based Kamdhenu Group has a presence in steel and paints segments.