India Glycols Limited., a Indian chemicals manufacturer announced its results for the second quarter ended Sept 30, 2022.
Q2 Results- QoQ
The company’s net profit declined 13.8% to Rs 250.1 million for the period ended Sept 30, 2022 as against net profit of Rs 290.2 million for the previous quarter.
Net sales fell 12.5% to Rs 16.4 billion during the period ended Sept 30, 2022 as compared to Rs 18.74 billion during the previous quarter.
Q2 Results- YoY
The company reported 33% drop in net profit to 250.1 million for the period ended Sept 30, 2022 as against net profit of Rs 372.8 million for the prior-year quarter.
Net sales decreased 3.7% to Rs 16.4 billion during the period ended Sept 30, 2022 as compared to Rs 17.03 billion during the prior-year quarter.
The company’s Bio-based Specialties and Performance Chemicals segment reported Rs 272.9 million EBIT while Potable Spirits segment reported Rs 230.7 million EBIT.
H1 Results- YoY
The company reported 78.3% drop in net profit to Rs 540.3 million for the period ended Sept 30, 2022 as against net profit of Rs 2.48 billion for the prior-year 1st half period.
Net sales increased 4.7% to Rs 35.14 billion during the period ended Sept 30, 2022 as compared to Rs 33.56 billion during the the 6 months period last year.
India Glycols Limited is a leading player in the Indian specialty chemicals sector engaged in the manufacture and sale of glycols, ethoxylates, glycol ethers and acetates, and various performance chemicals.