On a consolidated basis, the speciality chemicals maker's net profit jumped 33.7% to Rs 52.96 crore on 14.5% drop in net sales to Rs 214.95 crore in Q1 June 2020 over Q1 June 2019.
Consolidated profit before tax (PBT) soared 33.4% to Rs 78.97 crore in Q1 June 2020 as against Rs 59.21 crore in Q1 June 2019. Current tax expenses for the quarter surged 40% at Rs 25.99 crore as against Rs 18.56 crore in Q1 June 2019. The result was released after trading hours yesterday, 29 July 2020.
Consolidated operating EBITDA skid 12% to Rs 53.80 crore in Q1 FY21 as against Rs 61.10 crore in Q1 FY20. Operating EBITDA margin stood at 25% in Q1 FY21 compared with 24.3% in Q1 FY20.
Due to COVID-19 and nationwide lockdown announced by the Government, Navine Fluorine International had temporarily suspended manufacturing operations at its facilities. Therefore, the performance of Q1 FY21 do not represent normal quarter/operations and is not strictly comparable with previous periods.
The company had announced a capital expenditure of Rs 436 crore. The capex was backed by contract of Rs 2,800 crore. The project is schedule for completion by Q4 FY22. Other income for the quarter includes interest receipt refund on income tax worth Rs 26 crore.
Shares of Navine Fluorine International declined 1.98% to Rs 1,736.60. Navin Fluorine International is one of the manufacturers of speciality fluorochemicals.
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