Astral reported a 3.2% increase in consolidated net profit to Rs 127.9 crore on a 22.4% rise in net sales to Rs 1,098.9 crore in Q3 FY22 over Q3 FY21.
Profit before tax rose 2.7% to Rs 169.70 crore in Q3 FY22 from Rs 165.20 crore recorded in Q3 FY21. Consolidated EBITDA grew by 2.57% to Rs 2,038 crore in Q3 FY22 from Rs 1,987 crore posted in Q3 FY21. EBITDA margin declined to 18.5% in Q3 FY22 from Rs 22.14% posted in the same quarter last year.Astral said that the month of October was excellent but post Diwali due to extended rain, construction ban, increase in covid cases (third wave) & high fluctuations in the PVC price resulted in dealers destocking the material and going with light inventory.
The company's cash and bank balances as of 31 December 2021 stood at Rs 311 crore.
Astral is engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions.
Shares of Astral were trading 2.51% lower at Rs 2,127.4 on BSE.
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