Clariant Chemicals tumbles ~4% on Q1FY23 muted performance

10 Aug 2022 , 02:50 PM

Clariant Chemicals Limited announced its results for the quarter ended June 30, 2022. It is one of India’s leading producers of pigments and pigment dispersions.

The company reported Sales of Rs220.10 crore in Q1FY23, up by a nominal 5% y-o-y against Rs210.10 crore in the previous quarter.

The Company reported a Profit After Tax of Rs10.90 crore for the quarter ended June 2022, compared to a PAT of Rs16.20 crore in the previous quarter.

On a year-on-year basis, the sales witnessed a growth of 3% at Rs220.10 crore in Q1FY23 as compared to Rs212.80 crore in Q1FY22. Company’s PBT stood at Rs14.70 crore for Q1FY23 as against Rs19.60 crore for Q1FY22.

“I am proud to share that through the team’s excellent efforts, we were able to deliver profitable growth in Q1FY23,” commented Bharath Sesha, Managing Director, Clariant Chemicals.

This is especially encouraging given the industry’s recent struggles with uncertain demand and rising costs. While the outlook for the remainder of the year remains hazy, we remain committed to differentiating the company through strong efforts in delivering customer-led innovations and industry-leading sustainable solutions, she stated further.

At around 2.55 PM, Clariant Chemicals was trading at Rs436.70 down by 3.43% from its previous closing of Rs452.20 on the BSE. The scrip touched intraday high and low of Rs445 and Rs433 respectively.