Rain Inds reports dismal Q4 performance

Rain Industries reported a net loss of Rs 1,118.75 crore in Q4 FY23 as against net profit of Rs 89.52 crore in Q4 FY22.

Revenue from operations declined 24.85% to Rs 4,100.58 crore in Q4 FY23 from Rs 5,456.81 crore recorded in the corresponding quarter previous year.

The company reported pre-tax Loss stood at Rs 979.36 crore in Q4 FY23 as against pre-tax profit of Rs 335.48 crore in Q4 FY22.

Total expenses stood at Rs 5,153.03 crore (down 0.30% YoY), cost of raw material consumed was at Rs 1,601.8 crore (down 27.53% YoY), employee benefits expenses stood at Rs 340.33 crore (down 4.09% YoY) while finance cost was at Rs 245.33 crore (up 63.67% YoY).

 

Rain Industries is one of the world leading producers of calcined petroleum coke , coal tar pitch and other high quality basic and specialty chemical.

The scrip fell 2.11% to end at Rs 206.35 on Friday, 23 February 2024.

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