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Navin Fluorine declines after Q2 PAT slides 6.8% YoY

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Navin Fluorine International slumped 7.76% to Rs 3,560.55 after the chemical maker posted a 6.8% decline in consolidated net profit to Rs 63.22 crore in Q2 FY22 from Rs 67.81 crore reported in Q2 FY21.

Revenue from operations increased by 6.3% to Rs 338.96 crore in Q2 FY22 over Q2 FY21. Profit before tax declined 7.5% year on year to Rs 82.4 crore in Q2 FY22.

Consolidated operating EBITDA fell 7% to Rs 84.2 crore in Q2 FY22 from Rs 90.7 crore posted in Q2 FY21. EBITDA margin declined by 361 basis points to 24.8% in Q2 FY22 from 28.4% posted in Q2 FY21. The chemical maker said that margins were impacted due to higher employee cost and input costs

Navin Fluorine announced that Ketan Sablok, chief financial officer and a Key Managerial Personnel resigned from the services of the company after 24 years. Sablok will be relieved of his responsibilities w.e.f. close of working hours of 31 October 2021. Basant Kumar Bansal will be appointed as the new chief financial officer with effect from 1 November 2021.

Meanwhile, the board of directors has declared an interim dividend of Rs 5 per share. The record date for dividend is 2 November 2021.

Navin Fluorine International is one of the manufacturers of speciality fluorochemicals.

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

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First Published: Wed, October 20 2021. 09:16 IST
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