Fine Organics declines as PAT skid 11% YoY in Q3 FY24

Fine Organic Industries decreased 3.14% to Rs 4,522.75 after the specialty chemical maker reported 11.32% fall in consolidated net profit to Rs 94.21 crore in Q3 FY23 as compared with Rs 106.23 crore in Q3 FY22.

Revenue from operations slipped 35.69% year on year (YoY) to Rs 488.40 crore in the quarter ended 31 December 2023.

Profit before tax declined 25.85% to Rs 119.45 crore in Q3 FY23 as compared with Rs 161.10 crore in corresponding quarter last year.

Total expense dropped 37.11% YoY to Rs 385.41 crore during the quarter. Cost of materials consumed was at Rs 225.49 crore (down 51.97% YoY) while employee cost stood at Rs 51.89 crore (up 58.35% YoY).

 

For Q3 FY24, EBITDA stood at Rs 118.2 crore, registering the de-growth of 26.1% as compared with Rs 160.1 crore posted in corresponding quarter last year. EBITDA margin improved to 24.2% in Q3 FY23 as against 21.1% in Q3 FY22.

Fine Organic is a leading producer of specialty additives for foods, plastics, rubbers, paints, inks, cosmetics, coatings, textile auxiliaries, lubes and several other specialty applications.

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