New Delhi, May 30 (PTI) TMT bar maker Kamdhenu today posted a 31 per cent rise in profit after tax (PAT) at Rs 3.01 crore.

The company had reported Rs 2.29 crore PAT in the year- ago quarter, it said in a regulatory filing.

The company’s total revenue during the quarter grew 23 per cent to Rs 242 crore from Rs 197.37 crore in the corresponding quarter of previous fiscal.

Its expenses were at Rs 238.1 crore, as against Rs 193.31 crore during the three-month period a year-ago.

In a challenging year marked by demonetisation and rationalisation in steel prices, we delivered resilient performance by managing our business dynamically and responding with agility to changing macro-environment, Kamdhenu Ltd CMD Satish Kumar Agarwal said.

“With gradual recovery in the real estate and infrastructure sectors and the government’s resolve to boost affordable housing, we remain optimistic about the medium term outlook for the sector. Ahead of rollout of GST, we are constantly engaging with our dealers to address their concerns and help them prepare for this crucial tax reform so that supplies remain absolutely normal,” Agarwal said.

Kamdhenu follows franchisee business model and is the market leader in branded TMT Bars. It has a network of over 8,500 dealers/distributors in the country.

This is published unedited from the PTI feed.