India’s Aarti Industries reported a profit growth in its third quarter despite a fall in sales revenue.
According to the company, strong margins in higher value specialty chemicals led to the growth in profit.
Net profit of Aarti Industries rose 4.59% to Rs 139.84 crore ($19.5 million) in the quarter ended December 2019 as against Rs 133.70 crore ($18.8 million) during the previous quarter ended December 2018.
Overal sales declined 4.51% to Rs 1218.48 crore ($170 million) in the quarter ended December 2019 as against Rs 1276.03 crore ($178.8 million) during the previous quarter ended December 2018.
Revenue of specialty chemicals segment rose 1.98% to Rs 1,042.3 crore ($146 million) while revenue of pharmaceuticals segment increased 2.95% to Rs 176.2 crore ($24.5 million) during the period.