Agarwal Industrial Corporation Limited has released its 3rd quarter result for the financial year 2022-23. The company reported a year-on-year (YoY) jump of 45.42 per cent in its consolidated revenue at Rs 553.90 crore in the December quarter of FY23, according to a regulatory filing.
Its EBIDTA (earnings before interest, tax, depreciation and amortization) margin grew by 19.18 per cent to Rs 39.80 crore, while PAT (profit after tax) stood at Rs 26.43 crore, a growth of 27.91 per cent.
Aggarwal Industrial Corporation is the largest private sector player in the asphalt sector. The company has recently inducted two specialized Bitumen Vessels with a total capacity of 12,574 MT, taking the total number of its vessel family to 8 with a total carrying capacity of 51,574 MT.
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The company primarily deals with ancillary infra industry and is engaged in the business of manufacturing and trading of Bitumen and allied products that are extensively used in infrastructure projects.
Meanwhile, the government has increased the allocation of the Ministry of Road Transport and Highways by 36 per cent to Rs 2.7 lakh crore for the financial year 2023-24 to help meet the 25,000 km road development target announced in the 2022-23 budget . ,