Kirloskar Oil Engines (KOEL) is the leading manufacturer of Diesel engines and Generating Sets for all residential and commercial usage has reported a consolidated net profit of Rs 323 million for Q1FY22 compared to a loss of Rs 67 million in the year-ago quarter.

Consolidated Net sales increased by 95% yoy to Rs 8,095 million compared to Rs 4,154 million in Q1FY21.

EBITDA came at Rs 835 million in Q1FY22 as compared to Rs 108 million in Q1 FY21, a massive jump of 671% yoy. EBITDA Margin stood at 10.2% as against 2.6% in Q1 FY21.

KOEL has reported a standalone net profit of Rs 245 million for Q1FY22 compared to a loss of nearly Rs 110 million in the same period last year.

Net sales stood at Rs 6,392 million in Q1FY22 compared to the nearly Rs 3,150 million in Q1FY21, an increase of 103% yoy.

EBITDA at Rs 490 million for Q1FY22 has improved compared to the negative EBITDA of Rs 44 million for Q1FY21. EBITDA margin was at 7.6% for Q1FY22 compared to negative EBITDA margin of 1.4% for Q1FY21.

Sanjeev Nimkar, Managing Director, KOEL, said, "Q1 FY 22 performance has been quite promising especially after the very challenging last year. We continue to have good order book amidst the second wave of Covid-19. EBITDA margins were at 7.6% despite the commodity inflation pressure, as we could pass some of it to the customers. Our focus on fixed cost management continues to yield better results. On the business side, BS IV ramp up with the OEMs is in full swing. At KOEL, employee health and safety is of prime importance, we have already vaccinated 90% of our direct and indirect work strength with the first dose."

Shares of the company declined Rs 3.90, or 1.75%, to settle  at  Rs 218.90.  The total volume of shares traded  was  14,033 at  the BSE (Wednesday).