AVRO India H1 FY23 Net Profit up by 397.62%

Mumbai (Maharashtra) [India], November 18: 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 ₹ 21.56 Crore against ₹ 14.67Crore in Q2 FY22, 46.97% YoY growth

EBITDA for Q2 FY23 at ₹ 2.09 Crore against ₹ 1.21 Crore in Q2 FY22, 72.73 % YoY growth

EBITDA Margin for Q2 FY23 at 9.69 % against 8.25 % in Q2 FY22, 145 bps YoY growth

Net Profit for Q2 FY23 at ₹ 1.05 Crore against ₹ 0.78 Crore in Q2 FY22, 34.62 % YoY growth

Net Profit Margin for Q2 FY23 reported at 4.87 %

H1 FY23

Total Income for H1 FY23 at ₹ 41.88 Crore against ₹ 26.81Crore in H1 FY22, 56.21 % YoY growth

EBITDA for H1 FY23 at ₹ 4.26 Crore against ₹ 1.31 Crore in H1 FY22, 225.19 % YoY growth

EBITDA Margin for H1 FY23 at 10.17 % against 4.89 % in H1 FY22, 529 bps YoY growth

Net Profit for H1 FY23 at ₹ 2.09 Crore against ₹ 0.42 Crore in H1 FY22, 397.62 % YoY growth

Net Profit Margin for H1 FY23 at 4.99 % against 1.57 % in H1 FY22, 342 bps YoY growth

Commenting on the performance, Mr. 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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