SRF Ltd., an industrial and specialty intermediates manufacturer based in India announced its results for the third quarter ended December 31, 2021.
Q3 Results- QoQ
The company’s net profit grew 32.2% to Rs 5.05 billion for the period ended December 31, 2021 as against net profit of Rs 3.82 billion for the previous quarter.
Net sales increased 17.8% to Rs 33.56 billion during the period ended December 31, 2021 as compared to Rs 28.5 billion during the previous quarter.
Q3 Results- YoY
The company’s net profit grew 55.7% to Rs 5.05 billion for the period ended December 31, 2021 as against net profit of Rs 3.25 billion during the prior-year quarter.
Net sales increased 54.8% to Rs 33.56 billion during the period ended December 31, 2021 as compared to Rs 21.68 billion during the prior-year quarter.
Chemicals business
The chemicals business reported an increase of 58% in its segment revenue from Rs 9.06 crore to Rs 14.28 crore during Q3FY22 over corresponding period last year. The operating profit of the chemicals business increased 121% from Rs 1.9 crore to Rs 4.19 crore in Q3FY22 over corresponding period last year.
SRF Ltd is engaged in the business of manufacture and selling fluorochemicals, specialty chemicals, packaging films, technical textiles, coated and laminated fabrics.
Commenting on the financial performance, Ashish Bharat Ram, Managing Director, SRF, said in a statement, “It’s been an outstanding quarter for the company. Except for the technical textiles segment, which was impacted by soft market conditions, every other segment performed exceedingly well. We remain cautiously optimistic of our performance going forward.”