NOCIL Ltd., a leading rubber chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2021.
Q1 Results- QoQ
The company’s net profit grew 27% to Rs 47.41 crores ($6.4 million) for the period ended June 30, 2021 as against net profit of Rs 37.33 crores ($5 million) for the previous quarter.
Net sales increased 7% to Rs 345.61 crores ($46.6 million) during the period ended June 30, 2021 as compared to Rs 324.33 crores ($43.7 million) during the previous quarter.
Q1 Results- YoY
The company’s net profit grew 297% to Rs 47.41 crores ($6.4 million) for the period ended June 30, 2021 as against net profit of Rs 11.95 crores ($1.6 million) for the prior-year quarter.
Net sales increased 196% to Rs 345.61 crores ($46.6 million) during the period ended June 30, 2021 as compared to Rs 116.8 crores ($15.7 million) during the prior-year quarter.
YoY sales saw a sharp revival as demand for tyres increased from the automobile industry resulting in higher demand for rubber chemicals.
NOCIL is engaged in the business of manufacture and selling of antioxidants, accelarators and other rubber chemicals.