Alkyl Amines slips on recording Q2 PAT of Rs 52 cr

Alkyl Amines Chemicals declined 2.66% to Rs 2,931.20, after the specialty chemicals company reported 3.1% fall in net profit to Rs 52.41 crore in Q2 FY23 from Rs 54.09 crore in Q2 FY22.

Revenue from operations rose 17.3% year on year to Rs 408.87 crore in the quarter ended 30 September 2022.

During the quarter, profit before tax rose marginally by 0.6% to Rs 71.35 crore from Rs 70.94 crore posted in the same quarter last year.

Total expenses surged 20.5% year on year to Rs 339.85 crore in the quarter ended September 2022. Cost of materials consumed increased by 4.22% to Rs 196.30 crore while employee benefit cost increased by 9.12% to Rs 24.17 crore in Q2 FY23 over Q2 FY22.

Alkyl Amines Chemicals is in the business of manufacturing and marketing various aliphatic amines, amine derivatives and other speciality chemicals. The company supplies amines and amine-based chemicals to the pharmaceutical, agrochemical, rubber chemical and water treatment industries, among others.

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