Aarti Industries, which is in the field of chemical industry, declared its financial results for the second quarter and half year ended September 30, 2012. The company reported a increase of 58.14 per cent in its net profit to Rs 28.26 crore for Q2 FY13, as compared to Rs 17.87 crore in the corresponding quarter of last fiscal. The total income for the quarter ended September 30, 2012 stood at Rs 469.62 crore, up by 17.71 per cent, as compared to Rs 398.97 crore in the same period last year. The jump in revenue was mainly backed by robust show of performance chemical and agri-intermediates and fertiliser segments.
During the quarter, performance chemical and agri-intermediates and fertiliser segments registered growth of 18.75 per cent and 23.01 per cent, respectively during the Q2FY13 as compared to year ago quarter. The Board has declared interim dividend of Rs 1.50 per equity share of Rs 5 each.
For the half year period ended September 30, 2012, its net profit jumped by 48.30 per cent to Rs 53.30 crore, as compared to Rs 35.94 crore of the year ago period (H1 FY12). Total income for H1FY13 stood at Rs 918.51 crore, recording a rise of 16.48 per cent as compared to Rs 788.53 crore during H1FY12.
Commenting on the financial performance of the company, Rajendra Gogri, Chairman and Managing Director, Aarti industries, said, “Exports of the company has grown significantly during the period. We are pleased that contribution of export has more than 50 per cent during the period. This is for the first time that contribution of exports to the total revenue has crossed 50 per cent mark.”
“The supply chain of chemical manufacturing is shifting from developed countries to mainly India and China. Aarti Industries with its scale and expertise along with the fructification of its capex plans and commencement of hydrogenation plant is ideally placed to take the advantage of this opportunity,” he added.
Earnings before interest and taxes (EBIT) of performance chemicals segment rose by 49.35 per cent to Rs 46.04 crore in Q2FY13 from Rs 30.82 crore in Q2FY12. The company registered a growth of 11.75 in revenue of pharma segment with EBIT rising by more than five times to Rs 1.62 crore in Q2FY13 from Rs 0.32 crore in Q2FY12 mainly on account of higher realisations and margins from regulated markets.
Earnings Per Share (EPS) for the quarter ended Q2FY13 stood at Rs 3.57, up 53.30 per cent as compared with Rs 2.33 for the quarter ended September 30, 2011. For H1FY13, EPS stood at Rs 6.74 as against Rs 4.68 of the year ago period.
EP News Bureau