Asian Granito India PAT up 31% in Q1 2014-15

Asian Granito India Limited (AGL), one of India's top tiles companies, reported a 31.37% rise in the standalone net profit at Rs. 3.35 crore for the first quarter of FY 2014-15 as against Rs 2.55 crore in the corresponding quarter of previous fiscal 2013-14. Net sales for the Q1 of FY 2014-15 at Rs. 175.98 crore were higher by 12.21% over previous fiscal's same quarter sales of Rs 156.82 crore. Earnings per share for Q1 of FY 2014-15 stood at Rs. 1.48 per share (on face value of Rs.10 each).

AGL has an extensive marketing and distribution network which comprises over 3,000 dealers and sub-dealers covering each and every state of the country. The company has also rapidly opened more than 60 + exclusive showrooms under'AGL tiles world exclusives' for showcasing its product range.  

Commenting on the financial performance of the company, Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd, said, "The growth is on account of buoyancy and strong performance across all business verticals. In spite of a slowdown in the Indian tiles industry, we have grown due to continuous innovations in products and aggressive marketing across the country. This year is the year of growth for us and the market will see lot of developments from the company.”