India’s Navin Fluorine Reports 5.6% YoY Net Profit Growth in Q1FY21-22

Navin Fluorine International Ltd., a specialty fluorine-based chemicals manufacturer in India announced its results for the first quarter ended June 30, 2021.

Q1 Results- QoQ

The company’s net profit declined 24% to Rs 55.91 crores ($7.5 million) for the period ended June 30, 2021 as against net profit of Rs 73.22 crores ($9.8 million) for the previous quarter.

Net sales decreased 7% to Rs 335.38 crores ($45.1 million) during the period ended June 30, 2021 as compared to Rs 359.72 crores ($48.4 million) during the previous quarter.

Q1 Results- YoY

The company’s net profit grew 5.6% to Rs 55.91 crores ($7.5 million) for the period ended June 30, 2021 as against net profit of Rs 52.96 crores ($7.1 million) for the prior-year quarter.

Net sales increased 33.6% to Rs 335.38 crores ($45.1 million) during the period ended June 30, 2021 as compared to Rs 251.13 crores ($33.8 million) during the prior-year quarter.

Navin Fluorine International is engaged in the business of manufacture and selling of fluorine-based refrigerants, inorganic fluorides and specialty fluorochemicals.