Borosil drops after Q3 PAT slides 6% YoY to Rs 23 cr

Borosil fell 3.10% to Rs 342.15 after the company's consolidated net profit declined 6.08% to Rs 23.32 crore on 7.89% rise in revenue from operations to Rs 280.61 crore in Q3 FY23 over Q3 FY22.

Profit before exceptional items and tax fell 31.09% to Rs 26.15 crore in Q3 FY23 compared with Rs 37.95 crore in Q3 FY22.

Exceptional items includes receipt of claim amount of Rs 4.25 crore from insurance company as a full settlement of the claim with respect to loss of property due to fire at the company's warehouse situated at Bharuch.

During the quarter total expense jumped 16.46% to Rs 268.01 crore as against Rs 230.14 crore in corresponding quarter last year. Cost of raw material consumed stood at Rs 47.12 crore (up 36.98% YoY) and employee benefit expense was at Rs 30.04 crore (up 16.48% YoY).

 

Borosil is engaged in the business of manufacturing scientific instruments.

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