Profit after tax increases by 19% in Q1FY23
MUMBAI, India, Aug. 10, 2022 /PRNewswire/ -- Indo Amines Limited, one of the country's leading makers of Fine Specialty & Performance Chemicals has announced robust financial numbers in Q1FY23.
HIGHLIGHTS OF CONSOLIDATED BUSINESS
Consolidated business represents the performance of Indo Amines Ltd. and its subsidiaries (Indo Amines Group)
Consolidated Business Q1-FY23 vs Q1-FY22 (Y-o-Y basis)
- The Revenue from Operations of the Group has increased to Rs. 25,826.96 Lakhs from Rs. 17,707.42 Lakhs. The Revenue from Operations registered a growth of ~ 46% ;
- The Profit after tax (PAT) of the Group has increased to Rs. 848.50 Lakhs from Rs. 712.87 Lakhs. The PAT registered a growth of ~ 19%;
Highlights of Standalone Business:
Represents the performance of Indo Amines Ltd. Standalone
Standalone Business Q1-FY23 vs Q1-FY22 (Y-o-Y basis)
- The Revenue from Operations of the Company has increased to Rs. 25,192.66 Lakhs from Rs. 18,270.52 Lakhs. The Revenue from Operations registered a growth of ~ 38%;
- The Profit after tax (PAT) of the Company has increased to Rs. 1,100.69 Lakhs from Rs. 848.24 Lakhs. The PAT registered a growth of ~ 30%;
Commenting on the successful result, Mr. Vijay Palkar, Managing Director and CEO, Indo Amines Limited, said, " We are happy to share the amazing growth figures. We'll keep strengthening our position and extending into untapped new markets. In order to strengthen our current and future partnerships in the domestic and international markets, we will develop our chemistries and form strategic alliances. We anticipate a bright future and will enable expansion and further utilization of our plants. For Indo Amines, these are exciting times, and we are pleased with the accomplishments and opportunities that are coming our way."
Commenting on the successful result, Mr. Rahul Palkar, Joint Managing Director, Indo Amines, said, "In the current year, we have maintained our growth trajectory and enhanced our EBITDA margins. We have also contributed significantly to the global ESG and sustainability movement and shown climate consciousness. Strategic partnerships and our advanced capabilities put us in a good position to sustain growth, add value to our clients, and maximize shareholder value."
About Indo Amines Limited:
Indo Amines Limited (NSE: INDOAMIN) (BSE: 524648), is one of the country's leading makers of Fine Specialty & Performance Chemicals, headquartered in Mumbai. The company was incorporated in 1992 and produces a wide range of fatty amines and amine derivatives for usage in a variety of industries. Their products are also used in specific process applications for a variety of industries and processes. Fine chemicals-Aliphatic Amines, Aromatic Amines, Amine Ethoxylates, Cycloalkanones, Cycloalkanols, Halides, Alcohols, Aliphatic Nitriles, Aromatic Nitriles, Acids & Esters, Bulk Drugs & Advanced Intermediates, etc., are among the company's products. Fatty Acids, Fatty Amides, Fatty Amines, Fatty Diamines, Fatty Tertiary Amines, Fatty Ethoxylates, Quaternary Ammonium Compounds and Other Specialty Chemicals Fertilizers, road construction, plastics, paper, agrochemicals, pharmaceuticals, and other performance chemicals.