Rushil Décor Q3 FY23 profit after tax up by 41% to Rs 10cr
Rushil Décor has reported a profit after tax (PAT) of INR 10.2 crores for the third quarter of the fiscal year (Q3 FY23), an increase of 40.5% compared to INR 7.3 crores in the same quarter of the previous fiscal year.
For the reported quarter, the Indian decorative laminates manufacturer earned operating revenues of INR 210.3 crores, which is a 26.1% year-over-year (YoY) growth basis owing to robust growth in medium density fibreboard (MDF) and laminates business.
The net revenue of Rushil Décor for the nine months ended 31 December 2022, was INR 624.5 crores, which is a 45.5% YoY growth.
The medium density fibreboard earned INR 462.6 crores in 9M FY23, compared to INR 291.2 crore in 9M FY22, while the laminates business earned INR 156.5 crores in 9M FY23 compared to INR 139.9 crores in 9M FY22.
Commenting on Rushil Décor Q3 FY23 results, Krupesh G Thakkar — Rushil Décor Chairman and Managing Director said: “I am happy to share that during the third quarter we have registered revenue growth of 26% from Rs. 166.8 to Rs. 210.3 crore. This has been driven by both our business segments – MDF as well as laminates.
“During the quarter, we saw strong demand for our laminates business in the global markets which led to an increase of 41% in export volumes. We expect this trend to continue in the coming quarters as well.
“Strong global demand for products manufactured by our company will also support our upcoming jumbo laminates manufacturing capacity and help us achieve our target of achieving sustainable growth and higher EBITDA margins.”