Kennametal India Q2 net profit rises 14% to ₹24 cr.

Kennametal India Ltd. (KIL) reported 14% increase in its standalone Q2 net profit over the previous year to ₹24 crore, while profit before tax grew 13% to ₹33 crore.

Revenue from operations degrew marginally by 1.5% to ₹271 crore due to softening market conditions that affected both hard metals and machine tools segments, the manufacturer of hard metal products and machine tools said in a statement.

“Our focus on operational efficiency has helped improve our profitability both sequentially and on a year-over-year basis. As we leverage a profitable product mix, focus on share gain in high growth segments and new territories, and delivering value to customers through a ‘full solutions’ approach, we are well poised to drive sales and improve profitability,” said MD Vijaykrishnan Venkatesan.