Craftsman Automation’s shares declined by 4% in Thursday’s trading session following the release of their Q1 results for the fiscal year 2024. The company’s consolidated net profit fell by 28.58%, reaching Rs 53.19 crore in the quarter ended June 2024, compared to Rs 74.48 crore in the same period the previous year.
Despite the drop in net profit, Craftsman Automation reported a 10.94% increase in sales, which rose to Rs 1,151.19 crore from Rs 1,037.63 crore in the previous year’s quarter. However, the operating profit margin (OPM) decreased from 20.65% to 17.14%, reflecting a decline in profitability.
Key financial figures include a 13% drop in profit before depreciation and tax (PBDT), which stood at Rs 153.20 crore compared to Rs 175.74 crore in the previous year. Profit before tax (PBT) also decreased by 25%, from Rs 107.45 crore to Rs 80.71 crore.
As of 9:35 AM, Craftsman Automation’s shares were trading 4.11% lower at ₹5,095.05 on the NSE.
