SRF posts 8 pc jump in profit at Rs 194 crore for March quarter

ANI
04 Jun 2020, 18:33 GMT+10

Gurugram (Haryana) [India], June 4 (ANI): SRF Ltd on Thursday reported a profit after tax of Rs 194 crore in the January to March quarter, up 8 per cent from Rs 179 crore in the corresponding period of the previous financial year.

The consolidated revenue decreased by 4 per cent to Rs 1,858 crore from Rs 1,937 crore while earnings before interest and tax (EBIT) increased by 2 per cent from Rs 325 crore in Q4 FY19 to Rs 332 crore in Q4 FY20.

"The demand for speciality chemicals has been robust and the business has contributed as per expectations," said Managing Director Ashish Bharat Ram.

"The packaging films business has also done well and continues to increase its footprint across the globe. All the business segments were adversely affected due to the lockdown announced by the government in March 2020," he said in a statement.

In FY20, SRF's revenue increased by 2 per cent from Rs 7,100 crore to Rs 7,209 year-on-year. The EBIT increased by 16 per cent from Rs 1,079 crore to Rs 1,250 crore and profit after tax increased by 55 per cent from Rs 592 crore to Rs 916 crore.

As of March 31, the company has applied for 205 patents. The company's diversified business portfolio covers fluorochemicals, speciality chemicals, packaging films, technical textiles, coated and laminated fabrics.

(ANI)

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