Kennametal records all-time high income

Kennametal India on Friday said it recorded an all-time high consolidated income of Rs 1000 crore for the fiscal year ended June 2022, while registering a profit before tax (PBT) of Rs 152.6 crore, up 55% over last year. The American multinational follows the July to June fiscal year. The revenue from operations was at ₹ 990.7 crore, 16% higher than the fiscal year 2021, the Bengaluru-based company said in a press release.

In the fourth quarter ended June 30, 2022sales grew to Rs 268.6 crore, 27% higher compared to the same quarter last fiscal. The PBT was Rs 38.2 crore, up 31% over the same quarter, last fiscal. Despite inflationary pressures and ongoing geopolitical tensions resulting in surging commodity prices and supply chain constraints, the company continued its growth across the Hard Metals and Machine Tools segments.

Kennametal India MD Vijaykrishnan Venkatesan said: “Our sound financial performance reflects the resilience and commitment demonstrated by the team in delivering on strategic initiatives despite challenges in the macroeconomic environment, including inflation. During the year, we continued to expand and diversify our customer base across segments. Our steadfast focus on innovation - balancing horizontal deployment of proven solutions with new launches, enabled customers to achieve productivity and performance. Our growth initiatives, combined with commercial and operational efficiencies helped us achieve profitable growth in FY22, and we will endeavour to progress in FY23.”