Alkyl Amines Chemicals jumps after robust Q4 performance

Alkyl Amines Chemicals surged 5.76% to Rs 2219.95 after the company's consolidated net profit surged 160% to Rs 49.20 crore in Q4 FY20 from Rs 18.92 crore in Q4 FY19.

Net sales during the quarter declined 1.1% to Rs 234.76 crore from Rs 237.45 crore in the same period last year.

Total expense declined 15.6% year-on-year (YOY) in the January-March period to Rs 176.27 crore due to lower raw material costs which declined 18.7% YoY during the quarter. Raw material costs represent nearly 63% of the company's total expense.

Profit before tax stood at Rs 61.10 crore in Q4 March 2020, up by 93.6% from Rs 31.56 crore in Q4 March 2019. Current tax expense rose 33.5% to Rs 14.53 crore in Q4 F20 over Q4 FY19.

"Though the company is not in position to gauge with certainty the future impact on its operations, the company expects that the demand for its products from pharmaceuticals sector will continue and, as such, barring unforeseen circumstances there will not be a significant impact of COVID-19 on the operations of the company for the financial year 2020-21,", the company said.

Alkyl Amines Chemicals is a global supplier of amines and amine-based chemicals to the pharmaceutical, agrochemical, rubber chemical & water treatment industries, among others.

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