Atul Ltd, an Indian specialty chemicals manufacturer announced its results for the third quarter ended Dec 31, 2022.
Q3 Results- QoQ
The company’s net profit declined by 30.4% to Rs 1.05 billion for the period ended Dec 31, 2022 as against net profit of Rs 1.51 billion for the previous quarter.
Net sales decreased 15% to Rs 12.91 billion during the period ended Dec 31, 2022 as compared to Rs 15.19 billion during the previous quarter.
Q3 Results- YoY
The company reported 32.4% decrease in net profit to Rs 1.05 billion for the period ended Dec 31, 2022 as against net profit of Rs 1.55 billion for the prior-year quarter.
Net sales decreased 6.7% to Rs 12.91 billion during the period ended Dec 31, 2022 as compared to Rs 13.83 billion during the prior-year quarter.
9 Months – YoY
The company reported 10.1% drop in net profit to Rs 4.21 billion for the period ended Dec 31, 2022 as against net profit of Rs 4.68 billion for the prior-year 9 months period.
Net sales increased 14.8% to Rs 43.23 billion during the period ended Dec 31, 2022 as compared to Rs 37.64 billion during the 9 months period last year. Atul Ltd is a leading player in the Indian chemical industry engaged in the manufacture and sale of specialty chemicals. Atul manufactures 900 products and 400 formulations. It also owns around 140 brands.