India’s Fairchem Speciality Limited reported rise in profit growth in the third quarter 2019 on strong Oleochemicals margins.
The company has posted net profit of Rs.7.2 crores ($1 million) for the period ended December 31, 2019, an increase of 7.6% as against Rs.6.69 crores ($0.93 million) for the prior-year quarter.
The company has reported net sales of Rs.80.27 crores ($11.1 million) during the period ended December 31, 2019, an increase of 8.1% as compared to Rs.74.28 crores ($10.3 million) during the prior-year quarter.
Increase in profit was attributed to strong Oleochemicals (e.g. Dimer Acid etc) margins, which are used in many consumer products including paints, printing inks, epoxy hardeners, drilling chemicals and moulds.