Tiles maker Asian Granito India Ltd on Wednesday announced standalone net profit of Rs 6.87 crore for the quarter ended September 2017, up 20 per cent from Rs 5.72 crore in the corresponding quarter a year ago.

Company's total income for the quarter under review stood at Rs 242.33 crore, down from Rs 262.83 crore in the corresponding quarter a year ago.

For the six months period (April-September), company's net profit stood at Rs 14.16 crore, up 23 per cent from Rs 11.52 crore in the corresponding period a year ago.

Total income for the six-month period stood at Rs 455 crore down from Rs 465 crore in the same period last year.

On consolidated basis, company's net profits stood at Rs 14 crore for the quarter ended September 2017, up 55 per cent from Rs 9 crore in the same period a year ago.

Total consolidated income for the quarter stood at Rs 276 crore, down from Rs 291 crore in the corresponding quarter a year ago.

Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd said, "EBITDA & PAT Margins have improved by 120 basis points to 13.5 per cent and by 140 basis points to 5.1 per cent respectively. This is mainly due to continuous innovation by adding new value add products to out portfolio and improved efficiency of our operations."

The Government has reduced GST on Tiles and Marble from 28% to 18%. This is extremely positive for the ceramic industry as a whole. This will not only augment sector growth but will also encourage unorganised players to pay taxes which were facing problems post demonetisation and slowdown in real estate, the company stated.

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