Alkyl Amines Q1 results: Net profit rises 48% to ₹78.5 crore
Premium- Alkyl Amines manufactures amines, amine derivatives, speciality chemicals that serve the pharmaceutical, agrochemical, rubber chemicals and paints and dye industries
Chemicals company Alkyl Amines on Tuesday reported a net profit of ₹78.5 crore in the first quarter (Q1) of the current fiscal, rising nearly 48.6% as compared to ₹52.8 crore in the same quarter last year. On a sequential basis, the net profit was down from ₹92.6 crore in Q4.
The company's total revenue from operations witnessed a growth of 60% at ₹391.8 crore as against ₹245 crore year-on-year (YoY). Alkyl Amines' total tax expenses stood at ₹25.7 crore from ₹16.8 crore in the year-ago quarter.
The company said that it continues to monitor the impact of COVID 19, on its business across the globe and is in a comfortable financial position to meet its commitments and will be able to meet all its debts obligations as they come up. Internal financial reporting and control are adequate and operating effectively, it added.
''Although there are uncertainties due to the pandemic, the Company expects that the demand for its products from the pharmaceuticals sector will continue,'' it said in the exchange filing.
Shares of Alkyl Amines Chemicals were down over 2% to ₹4,312 per share on the BSE in Tuesday's afternoon deals. Alkyl Amines manufactures amines, amine derivatives, speciality chemicals that serve the pharmaceutical, agrochemical, rubber chemicals and paints and dye industries.
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