By: IPP Bureau
Last updated : November 07, 2022 9:32 am
H1 FY23 revenues at Rs. 860.1 crore, higher by 40% YoY whereas PAT at Rs. 52.6 crore, higher by 4% YoY
Rossari Biotech Limited, a specialty chemicals manufacturer providing intelligent and sustainable solutions for customers across industries, has announced Q2 FY23 revenues at Rs. 425.4 crore, higher by 11% YoY and profit after tax (PAT) at Rs. 23.9 crore, lower by 9% YoY.
Standalone revenues for Q2 FY23 from operations stood at Rs. 240.9 crore as against Rs. 233.7 crore in Q1 FY 23 whereas PAT stood at Rs. 15.4 crore as against Rs. 15.4 crore
H1 FY23 revenues at Rs. 860.1 crore, higher by 40% YoY whereas PAT at Rs. 52.6 crore, higher by 4% YoY.
Commenting on the performance, Edward Menezes, Promoter & Executive Chairman, and Sunil Chari, Promoter & Managing Director said, “We have reported a steady performance in our key business segments during the quarter amidst a volatile operating environment. Our acquired companies performed consistently during the quarter. On a consolidated basis, our total revenue from operations stood at Rs. 425.4 crore in Q2 and Rs. 860.1 crore in H1."
"In spite of the continued challenging macro economic environment and subdued global demand, we have been able to maintain our Q-o-Q margins. On the raw material front we are now witnessing some price stability. This should help maintain our margins through the second half of the year," said Menezes and Chari.
"Overall, we are optimistic that a stabilizing demand environment will drive sustainable growth in the upcoming quarters. To maintain our market position as a top provider of intelligent and sustainable solutions, our long-term focus will continue to be on growing our wallet share among our current client base while expanding out to emerging customer segments," commented Menezes and Chari.
"The specialty chemicals industry in India is fast progressing with strong growth prospects for the future. With a strong balance sheet, adequate manufacturing capacities and a diversified product portfolio, we are well-poised to capitalize on the upcoming opportunities in this space,” added Menezes and Chari.