Nitco Tiles Q1 net up 61%

PTI

Mumbai: Nitco Tiles on 24 July reported a 61% jump in net profit at Rs11.09 crore for the first quarter ended 30 June, against Rs6.90 crore in the same period last year.

“The robust growth during the quarter was primarily contributed on account of 43% increase in sales of ceramic and vitrified tiles. We expect this trend to continue on account of sustained buoyancy in the construction and real estate sector,” Nitco Tiles managing director Vivek Talwar said in a statement.

Net sales for the quarter stood at Rs116.50 crore, up 32% against Rs88.37 crore in the corresponding period last year.