Kirloskar Oil at life time high

Kirloskar Oil Engine is a buzzing stock today; the stock opened almost 8.5% higher at Rs.1120 and soon zoomed up to hit a life-time high at Rs.1167.05.

The market is very enthused with the company’s earnings for Q4FY24. On a consolidated basis, it posted a revenue from operations at Rs.1660 crore, up 20% (YoY) and on this, its net profit came in at Rs.131 crore, up 23%.

It ended FY24 with a  17% jump in consolidated revenue from operations at Rs.5898 crore and net profit for the fiscal was at Rs.468 crore, up 30%.

The company achieved its highest-ever quarterly and yearly revenue figures, surpassing Rs. 500 crore in international sales for the first time.

Its CPCB IV+ products have experienced good traction, alongside the encouraging response for the newly introduced Optiprime range. Its B2B segment growth was backed by strong demand in key sectors such as construction, infrastructure, and railways.