Rossari Biotech revenue more than doubles to Rs231.11cr in Q1FY22; Stock ends over 4% higher

The company’s PAT stood at Rs24.55cr in Q1FY22 as against Rs15.49cr in Q1FY21, higher by 58.40% yoy.

Aug 02, 2021 04:08 IST India Infoline News Service

Rossari Biotech Limited (Rossari), a Speciality-Chemicals manufacturer providing intelligent and sustainable solutions for customers across industries, on Saturday announced its financial results for the quarter ended June 30, 2021.

Revenues from operations stood at Rs231.11cr in Q1FY22 as against Rs109.47cr in Q1FY21, higher by 111.12%. EBITDA at Rs37.12cr as against Rs23.74 crore, up by 56.33% yoy.

The company’s Profit After Tax (PAT) stood at Rs24.55cr in Q1FY22 as against Rs15.49cr in Q1FY21, higher by 58.40% yoy. EPS (Diluted) stood at Rs4.49 as against Rs3.14.

Rossari Biotech Ltd trade on Monday ended at Rs1,289.55 per piece up by Rs53.15 or 4.3% from its previous closing of Rs1,236.40 per piece on the BSE.

“The new fiscal year began on an encouraging note, with solid gains across businesses. While the quarter gone by witnessed a challenging operating environment due the second wave of the COVID-19 pandemic, the demand and offtake across our HPPC, TSC and AHN divisions broadly remained steady. Our HPPC business demonstrated strong growth led by robust volumes in hygiene products and anti-viral portfolio, supported by consistent demand in key end user categories. Although broader operating constraints due to the lockdown restrictions moderated growth of our TSC business sequentially, we have started witnessing sustained improvement in sales from June onwards.

In addition, higher consumption in the AHN segment assisted our overall results. Consolidated revenues in the quarter stood higher by 111.12% yoy and PAT up by 58.40% yoy. Our profitability margins also remained within healthy levels,” Edward Menezes, Promoter & Executive Chairman, and Sunil Chari, Promoter & Managing Director, said.

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