BENGALURU, November 11, 2022— Kennametal India Limited (KIL) reported continued growth for the first quarter of FY23 (ending September 30, 2022), despite challenges including commodity inflation, ongoing geopolitical tensions and global supply chain constraints. On a consolidated basis, sales grew to ₹ 2,673 Mn, 12.5% higher as compared to the same quarter last fiscal. Profit Before Tax (PBT) was ₹ 391 Mn, up 3.4% over the same quarter, last fiscal. The company delivered strong performance in both the Hard Metals and Machine Tools segments with a focus on securing sustainable business across transportation, earthworks, energy, aerospace, and general engineering.
Commenting on the results, Vijaykrishnan Venkatesan, Managing Director, KIL said, “Despite various headwinds this quarter, our focus remains on the execution of commercial and operational excellence initiatives, as well as delivering on customer commitments, while managing costs and improving efficiency. At the same time, we continue to innovate and introduce new products, solutions and applications that enable our customers to improve their performance and productivity.”