Asian Granito India Limited (AGIL) has reported net profit of Rs. 24.9-crore during Q3FY21, growth of 126% as compared to net profit of Rs. 11-crore in the corresponding period last year. Consolidated net sales for the quarter ended December 2020 was reported at Rs. 384.6-crore, up by 29% over previous fiscal’s same period net sales of Rs. 297.9-crore. Consolidated EBITDA for the quarter ended December 2020 was reported Rs. 49.5-crore.
The Company’s key to success was its impact in the overseas market, steps taken to enhance the operations, efficiency and better retail presence. During the quarter, tiles division has seen strong traction in demand from domestic as well as from export market, resulting strong revenue growth.
The Chairman and Managing Director, Mr Kamlesh Patel said, “In the third quarter of the current financial year, the demand for our products across various markets cemented our success as we continued to focus on value addition. The strong result is reflected by our topline growth of 29%. Our popularity has been marked in both urban and rural markets, a trend which has been continuing since the last two quarters.”
