Aarti Industries Ltd., a leading specialty chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021.
Q3 Results- QoQ
The company’s net profit grew 338.6% to Rs 7.72 billion for the period ended December 31, 2021 as against net profit of Rs 1.76 billion for the previous quarter.
Net sales grew 53.1% to Rs 23.76 billion during the period ended December 31, 2021 as compared to Rs 15.52 billion during the previous quarter.
Q3 Results- YoY
The company’s net profit grew 367.4% to Rs 7.72 billion for the period ended December 31, 2021 as against net profit of Rs 1.65 billion during the prior-year quarter.
Net sales increased 100.1% to Rs 23.76 billion during the period ended December 31, 2021 as compared to Rs 11.87 billion during the prior-year quarter.
The net profit was up on the termination fee accrued from a client who had cancelled a long-term supply contract.
In the absence of that inflow, the net profits would actually been flat to lower.
Shortage of nitric acid weakened the production of nitric-based products.
Aarti Industries Ltd is engaged in the business of manufacture and selling pharmaceuticals, agrochemicals, polymers, additives, surfactants, pigments and dyes.