Kennametal India Limited (KIL) reported its third quarter FY24 results (ended March 31, 2024), showing a 5.1 percent growth in sales and a 135 percent increase in profit before tax (PBT) compared to the same quarter last year.

The company's sales stood at Rs 2,688 million, marking a 5.1 percent increase from Rs 2,557 million in the same quarter of the previous fiscal year. The profit before tax (PBT) reached Rs 517 million, reflecting a 135 percent increase compared to Rs 220 million in the same quarter last fiscal year. The sales acceleration is attributed to growth in the domestic market in both the hard metals and machine tools segments, while the increase in PBT primarily resulted from revenue growth, higher production volumes, and an exceptional item.

Commenting on the results, Vijaykrishnan Venkatesan, Managing Director of KIL, stated, "Our performance this quarter reflects the continued momentum in the domestic market. This quarter's profit before tax is an outcome of strong domestic market demand, higher volumes, and cost-control initiatives. We continue to execute our strategic imperatives of commercial an operational excellence to drive profitable growth in our target end-use segments."