Privi Speciality Chemicals Limited (formerly Fairchem Speciality Ltd), an Indian specialty chemicals manufacturer announced its results for the third quarter ended December 31, 2020.
Q3 Results- QoQ
The company’s net profit increased 10.8% to Rs 18.82 crores ($2.6 million) for the period ended December 31, 2020 as against net profit of Rs 16.98 crores ($2.3 million) for the previous quarter.
Net sales grew 4.2% to Rs 328.97 crores ($45.2 million) during the period ended December 31, 2020 as compared to Rs 315.81 crores ($43.4 million) during the previous quarter.
Q3 Results- YoY
The company’s net profit fell 40.2% to Rs 18.82 crores ($2.6 million) for the period ended December 31, 2020 as against net profit of Rs 31.47 crores ($4.3 million) for the prior-year quarter.
Net sales increased 4.4% to Rs 328.97 crores ($45.2 million) during the period ended December 30, 2020 as compared to Rs 315.07 crores ($43.3 million) during the prior-year quarter.
Last month, Fairfax Group and a small group of shareholders in Fairchem Organics Ltd have made an open offer to buy the stake they don’t already own in the speciality chemicals firm. They aim to buy around 25% stake for more than Rs 194 crore (around $26.6 million), as per a filing with BSE, in a move that will give them 100% ownership.