Atul Ltd. has announced increase in net profit for its fourth quarter and full-year ended 31 March on good margins in Performance and Other Chemical segment.
The company’s fourth quarter net profit increased 26.6% to Rs 1.4 billion ($18.9 million) from Rs 1.1 billion ($14.9 million) in the prior year quarter.
Revenue in the quarter fell -5.8% to Rs 10 billion ($132.3 million) from Rs 10.6 billion ($140.4 million) in the prior year quarter.
Fall in revenues was attributed to the decrease in life sciences segment sales in the quarter due to weak demand caused by COVID-19 pandemic.
The company’s full-year net profit increased 54.2% to Rs 6.7 billion ($88.1 million) from Rs 4.3 billion ($57.3 miilion) in the prior year.
Revenue for the full-year increased 2.4% to Rs 41.7 billion ($551.3 million) from Rs 40.7 billion ($538.3 million) in the prior year quarter.
According to the company, strong margins and consistent volume growth of Performance and Other Chemical segment led to the growth in profit for the year.