SRF's net up 61% to Rs 76 crore in Q2

Specialty chemicals company SRF Ltd has reported a robust 61% year-on-year (yoy) growth in net profit at Rs 76.85 crore for the second quarter ended September 30, 2014 (Q2), aided by better sales realisations. The company had profit of Rs 47.77 crore during the same quarter a year ago.
 
The Gurgaon-headquartered SRF, which manufactures chemical based industrial intermediates, has business portfolio covering technical textiles, fluorochemicals, specialty chemicals, packaging films and engineering plastics.
 
Total income from operations during the July-September quarter also increased 9.98% to Rs 928 crore as against Rs 844 crore a year ago, SRF said in a BSE filing. EBITDA or operating profit margin expanded by an over 400 bps to 20.1% from 15.8%.
 
“The overall operations performed well this quarter. The company's strategy of growing the chemicals business is paying dividends. Our traditional business should pick once economy rebounds,” said Ashish Bharat Ram, Managing Director, SRF.