AVRO India H1 FY23 Net Profit up by 397.62 per cent
Nov 18, 2022
Mumbai (Maharashtra) [India], November 18 (ANI/PNN): AVRO India Limited (NSE - AVROIND & BSE - 543512), One of the leading manufacturers of plastic moulded furniture products has announced its unaudited Financial Results for the Q2 & H1 FY23.
Key Financials at a Glance:
Q2 FY23
Total Income for Q2 FY23 at Rs 21.56 Crore against Rs 14.67Crore in Q2 FY22, 46.97 per cent YoY growth
EBITDA for Q2 FY23 at Rs 2.09 Crore against Rs 1.21 Crore in Q2 FY22, 72.73 per cent YoY growth
EBITDA Margin for Q2 FY23 at 9.69 per cent against 8.25 per cent in Q2 FY22, 145 bps YoY growth
Net Profit for Q2 FY23 at Rs 1.05 Crore against Rs 0.78 Crore in Q2 FY22, 34.62 per cent YoY growth
Net Profit Margin for Q2 FY23 reported at 4.87 per cent
H1 FY23
Total Income for H1 FY23 at Rs 41.88 Crore against Rs 26.81Crore in H1 FY22, 56.21 per cent YoY growth
EBITDA for H1 FY23 at Rs 4.26 Crore against Rs 1.31 Crore in H1 FY22, 225.19 per cent YoY growth
EBITDA Margin for H1 FY23 at 10.17 per cent against 4.89 per cent in H1 FY22, 529 bps YoY growth
Net Profit for H1 FY23 at Rs 2.09 Crore against Rs 0.42 Crore in H1 FY22, 397.62 per cent YoY growth
Net Profit Margin for H1 FY23 at 4.99 per cent against 1.57 per cent in H1 FY22, 342 bps YoY growth
Commenting on the performance, Sushil Kumar Aggarwal, Chairman of AVRO India Limited said, "After strong performance in Q2 FY22, we continue to march strongly in FY23. Although first and second quarter is normally subdued as no festive season during the period, the Company managed to report impressive numbers. During the quarter, we have expanded our presence PAN India through offline mode while our online sales are doing extremely well.
The key attraction for the quarter and FY23 would be our initiative on Green Company and optimization of costs which will reflect in our bottom line going forward."
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