Bodal Chemicals Limited reported a decrease in net profit and total income for Q3 2023. The company's net profit declined to Rs. 1.24 crores from Rs. 2.20 crores in Q2 2023, and significantly down from Rs.10.26 crores in Q3 2022. Total income also fell to Rs.335.92 crores from Rs.341.26 crores in the previous quarter and down from Rs.402.911 crores in the same period of the previous year.
For H1 2023, Bodal reported a total income of Rs.677.19 crores and a net profit of Rs.3.453 crores, both showing significant declines from Rs.869.44 crores and Rs.32.79 crores respectively in H1 2022.
In contrast, Borosil Renewables Ltd's financial results for September 2023 revealed a net profit of Rs.25.05 crores, overturning a June 2023 net loss of Rs.8.32 crores and exceeding September 2022's profit of Rs.24.18 crores.
Total income for Borosil Renewables rose to Rs.406.31 crores from June's Rs.362.46 crores and dwarfed September 2022's figure of Rs.171.37 crores significantly.
For the half-year ended September 30, 2023, Borosil Renewables posted an income of Rs.768.77 crores and a net profit of Rs.16.73 crores, a stark contrast to the previous year's half-year income of Rs.344.49 crores and a net profit of Rs.54.29 crores.
Navigating through a turbulent financial landscape, Borosil Renew witnessed staggering growth in net sales to Rs 401.66 crore in September 2023, a massive leap of 137.3% from Rs 169.26 crore year-on-year.
Despite the financial strides, shareholders endured negative returns, with the share closing price pegged at 420.05 on Monday.
A modest net profit rise of 3.57% to Rs 25.05 crore was reported, while EBITDA dropped by 15.61% to Rs 37.14 crore. The EPS increase was noticeable, moving to Rs 1.92 from Rs 1.85 in September 2022.
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