Kirloskar Pneumatic Company Ltd (KPCL), a major player in Air, Refrigeration & Gas Compression business in India, announced its financial results for the first quarter of financial year FY 2022 ended 30th June 2021.
The Company said, “We are pleased to inform you that despite supply chain disruption and 2nd wave of Covid 19 affecting our work force, we have a good start of the year with the first quarter performance, registering 108 % increase in revenue over corresponding quarter of previous year which was largely affected by nationwide lockdown. Profits after tax showed a swing of over Rs 12 crores on an incremental sale of Rs 89 crore.”
Order booking during the first quarter was encouraging particularly in CNG compressors and compressors for generation of oxygen required to battle 2nd wave of Covid 19 pandemic. The company prioritized need of the nation by stepping up production of these compressors for oxygen plants. It will continue to supply these products in subsequent quarters also. Sufficient inventory and resources have been made available for this purpose even though some supply chain disruptions are still being experienced.
Compression business now accounts for over 95% of the company’s revenue and remains as only reporting segment. All other activities have been grouped under other non-reportable segments.