Balaji Amines Ltd. shares fell up to 7% on Thursday, August 8, after the company reported poor first-quarter earnings.
In comparison to ₹68 crore in the same quarter last year, the chemical firm reported a 33% decrease in net profit for the June quarter, coming in at ₹46 crore. The quarter’s revenue dropped 17% from ₹463 crore to ₹385, crore.
The year-on-year decline in earnings before interest, tax, depreciation and amortisation (Ebitda) was 31.5%, from ₹97.2 crore to ₹66.6 crore. Additionally, the Ebitda margin shrank from 20.9% to 17.3%.
Balaji Amines recorded a 5% year-over-year rise in volumes, according to Managing Director Ram Reddy, however a drop in raw material costs had an impact on realizations. “We are actively managing these challenges and are confident in our ability to navigate through them while maintaining our profitability,” he said.
As of 1:46 pm, Balaji Amines shares were trading 6.16% lower at ₹2,241.45 on the NSE.
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