Fineotex Chemical added 2.25% to Rs 405 after the company's consolidated net profit surged 47.49% to Rs 32.67 crore on 26.75% increase in net sales to Rs 138.45 crore in Q3 FY24 over Q3 FY23.
In the third quarter of FY24, the profit before tax (PBT) surged by 50% year on year (YoY) to Rs 43.56 crore.The company's consolidated operational EBITDA increased 41.33% to Rs 40.35 crore from Rs 28.55 crore posted in the same quarter of the previous year.
Total expenses spiked 21.76% YoY to Rs 99.82 crore in the quarter ended 31 December 2023. Cost of materials consumed was at Rs 78.92 crore (up 20.05% YoY) and employee benefits expense was at Rs 5.45 crore (up 18.22% YoY) during the period under review.
The volume of the quarter ended December 2023 has increased by 37.72% on YoY basis.
For the nine months ended, Fineotex Chemical's net profit jumped 43.52% to Rs 89.70 crore on 9.66% rise in net sales to Rs 415.95 crore in 9M FY24 over 9M FY23.
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The board has declared an interim dividend of Rs 1.20 per equity share aggregating to Rs 13.29 crore. The record date for dividend is fixed as 26 February 2024 and will be paid on or before 12 March 2024.
Fineotex Chemical is a specialty chemicals manufacturer that produces a range of products for various industries, including the oil and gas industry.
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