SRF Limited., an Indian chemicals & allied manufacturer announced its results for the third quarter ended December 31, 2020.
Q3 Results- QoQ
The company’s net profit increased 2.7% to Rs 324.25 crores for the period ended December 31, 2020 as against net profit of Rs 315.68 crores for the previous quarter.
Net sales grew 2.17% to Rs 2146.41 crores during the period ended December 31, 2020 as compared to Rs 2100.83 crores during the previous quarter.
Q3 Results- YoY
The company’s net profit dropped by 6.14% to Rs 324.25 crores for the period ended December 31, 2020 as against net profit of Rs 345.47 crores for the prior-year quarter.
Net sales increased 16% to Rs 2146.41 crores during the period ended December 30, 2020 as compared to Rs 1850.49 crores during the prior-year quarter.
The Fluorochemicals Business witnessed a revival in demand of refrigerants and healthy contribution from the chloromethanes segment, leading to a much better overall performance.
The Packaging Films Business reported an increase of 26% in its segment revenue from Rs 638 crore to Rs 802 crore during Q3 FY20-21 when compared with prior-year quarter.
Commenting on the latest results, Ashish Bharat Ram, Managing Director, SRF said in a statement: “It has been an excellent quarter for the company. We have seen all business segments return to normal operations. I remain cautiously optimistic going forward.”