Shares of Glycols Limited were trading in the green and 3% higher on 27 December after the company announced its plans to expand the capacity of its grain-based distillery based in Kanpur, Uttrakhand.

Earlier, the company had successfully commissioned a capacity expansion of 100 kilolitres per day (KLPD) to its existing grain-based distillery plant, taking its total capacity to 400 KPLD.

In its quarterly report for July-September, the company reported a 17.7% year-on-year decline in its net profit to Rs 37.14 crore for the quarter from Rs 45.12 crore reported in the same quarter last year.

The company’s revenue from operations reported a marginal decline during the quarter to Rs 1,869.88 crore against Rs 1,893.64 crore reported in the same quarter of the previous financial year.

The company’s profitability ratios also took a hit during the quarter; the return on equity slumped to 7.64% during the quarter to 22.29%, whereas the return on capital employed reduced to 9.21% during the quarter from 17.28%reported in Q2FY24.

The company is engaged in the business of manufacturing and marketing chemicals and offers other speciality chemicals, industrial gases, ethyl alcohol, and natural gum.

At 3:30 pm, the shares of Glycols closed 0.95% lower at Rs 749 on NSE.