Profit before tax climbed 36.01% year on year (YoY) to Rs 381.94 crore in the quarter ended 31 March 2024.

During the quarter, EBITDA grew 40.6% YoY to Rs 516 crore while EBITDA margin has increased to 12.9%, compared to 10.4% in same quarter last year.

The company stated that the profitability was supported by strong sales growth and lower raw material costs.

In the automotive division, volumes in the domestic market have seen good growth, supported by strong demand momentum both with the OEMs as well as in the replacement market. Export volumes are also recovering through a gradual pace.

In the industrial division, most verticals (such as I-UPS, solar, power, traction, etc.) have recorded double digit growth driven by increase in private/public capex and government’s thr...

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