You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Sumitomo Chemical hits record high after strong Q1 performance

Capital Market 

Sumitomo Chemical India added 1.68% to Rs 439 after the company's consolidated net profit increased by 33.4% to Rs 105.75 crore on a 20.7% rise in net sales to Rs 782 crore in Q1 FY22 over Q1 FY21.

As compared with Q4 FY21, the company's net profit and net sales are higher by 95.4% and 46.4%, respectively.

Profit before tax in Q1 FY22 stood at Rs 142.34 crore, up by 30.7% from Rs 108.91 crore in Q1 FY21. Current tax expenses rose by 12.7% YoY to Rs 36.46 crore during the period under review.

The scrip advanced 6.52% to hit the day's high at 459.90, which is a record high for the counter.

Sumitomo Chemical India manufactures chemical products. The company offers agricultural chemical and crop protection products. It serves customers worldwide.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, August 05 2021. 10:50 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU