Anupam Rasayan Q2 net profit up 1.84 pc to Rs 48.69 cr

Anupam Rasayan Q2 net profit up 1.84 pc to Rs 48.69 cr

New Delhi, Nov 7 (PTI) Chemicals maker Anupam Rasayan India Ltd on Tuesday posted a marginal increase of 1.84 per cent in consolidated net profit at Rs 48.69 crore in the second quarter of the current fiscal year.

The company's net profit stood at 47.81 crore in the same quarter of the previous year, according to a regulatory filing.

Total income rose to Rs 395.61 crore during the July-September quarter of the 2023-24 fiscal, from Rs 383.14 crore in the year-ago period.

Expenses remained slightly higher at Rs 324.94 crore in the period under review, as against Rs 315.72 crore in the said period.

'Amidst the challenging external environment, I am happy that we have been able to hold our ground and deliver some growth,' said Anupam Rasayan Managing Director Anand Desai.

In the first half of the current fiscal, total revenue rose to Rs 794.4 crore, reflecting a robust year-over-year growth of 11 per cent.

Our strong margins at 28 per cent for the first half this year are a testament to the company's unique business model, he said.

During this quarter, the company launched three new molecules, bringing the total to five by the end of H1 of the 2023-24 fiscal, he said, adding 'we will launch an additional five molecules by the close of FY24.' Desai further said, 'we are seeing a resurgence in demand, which instills confidence of delivering growth in coming quarters. This bolsters our confidence in achieving consistent growth and maintaining our margin profile.' The company has also signed three memorandum of understanding (MoUs) with the Gujarat government for afforestation in a bid to balance carbon emissions and achieve energy neutrality by 2027.

Anupam Rasayan said the board has approved issuance of 19.04 lakh equity shares on a preferential basis to promoters and 39.14 lakh convertible warrants on preferential basis to non-promoters.

The Gujarat-based company has a manufacturing capacity of 27,200 tonnes spread over six facilities. PTI LUX DRR

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