Kirloskar Pneumatic shares are down by 2% on July 20 as the company reported an 11.04% decline in its operational revenue at Rs 242.22 crore against its Rs 272.28 crore reported in the corresponding quarter of the previous fiscal year.

Kirloskar Pneumatic Limited is a subsidiary of the Kirloskar Group; the company primarily manufactures air compressors, industrial gas systems, and compressed air systems. The company has also ventured into developing wind turbine gearboxes and transmission mechanisms for railways.

The net profit for the current quarter was up by 10% at Rs 17.93 crore, while the company reported Rs 16.15 crore in Q1FY23.

The company reported a decline in profit after taxes, barring the non-operational other income, by 15.5% YoY to Rs 12.19 crore against Rs 14.44 crore in Q1FY23. In contrast, after taxes securing other income, the profit was down by 58.6% against the previous quarter.

EBITDA margins stood at 13% of the current quarter’s total income, up by 210 basis points from 10.9% in the previous fiscal year.

At 3:30 market close, the stock closed at Rs 646.05 apiece, down by 1.99% or Rs 13.10 on NSE.