Ganesha Eco reports 22.90% YoY growth in revenue for Q3 FY'22

7 Feb 2022 , 02:34 PM

Ganesha Ecosphere Limited announced its results for the quarter ended December 2021 and has reported a marginal improvement in numbers for the quarter. Post Q3 results, it’s stock dipped by 1.76%.

The company reported total revenue of Rs 288.25 crore for Q3 FY’22 as against Rs 234.54 crore for Q3 FY’21, reporting growth of 22.90% YoY. Its revenue for the 9M period ended December 2021 was reported at Rs 734.97 crore as against Rs 501.90 crore for the previous 9M period, up by 46.44% YoY.

The company’s PBT stood at Rs 24.56 crore for December 2021 quarter, as against Rs 26.88 crore for the previous corresponding quarter, down by 8.63% YoY. PBT for the 9M period was reported at Rs 64.42 crore against Rs 34.74 crore for the previous 9M period, registering a growth of 85.43% YoY.

Its PAT narrowed by 11.34% YoY at Rs 18.28 crore for Q3 FY’22 as against Rs 20.62 crore for the same quarter last year. Company’s PAT for the 9M period ended December 2021 stood at Rs 24.60 crores as against Rs 26.71 crore for the corresponding 9M period, reflecting a downfall of 7.90% year-on-year.

The company strives to become a preferred supplier of eco-friendly RPET products to reputed brands that believe in the sustainability story by establishing a premium brand. Company is laying a strong focus on R&D in order to expand the current value-added product portfolio from the current 25% to 50% over the next 2 to 3 years.