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Advanced Enzymes rises after good Q2 numbers

Capital Market 

Advanced Enzyme Technologies reported 23.1% rise in consolidated net profit rose to Rs 31.84 crore on 8% increase in net sales to Rs 111.44 crore in Q2 September 2019 over Q2 September 2018.

Shares of Advanced Enzyme Technologies rose 3.14% to trade at Rs 195.30. The stock has traded in the range of Rs 194.40 and Rs 206.85 so far during the day.

Revenues from the animal healthcare segment rose 9% to Rs 12.9 crore while those from the human healthcare segment increased by 7% to Rs 82.4 crore in Q2 September 2019 over Q2 September 2018. The industrial bio-processing segment revenues improved by 13% to Rs 16.1 crore during the stated period.

Consolidated EBITDA rose by 12% to Rs 47.3 crore in Q2 September 2019 as compared to Rs 42.1 crore in the corresponding quarter during last fiscal.

Advanced Enzymes is a research driven company with global leadership in the manufacturing of enzymes. The company provides eco-safe solutions to a wide variety of industries like human health care and nutrition, animal nutrition, baking, fruit & vegetable processing, brewing & malting, grain processing, protein modification, dairy processing, specialty applications, textile processing and others.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 04 2019. 10:24 IST