On BSE, the net profit of Fineotex Chemical reported 91.9 per cent rose to Rs 20.57 crore on a 71.1 per cent rise in net sales to Rs 134.31 crore in the second quarter of  FY23 over in the second quarter of FY22. Profit before tax (PBT) surged 71.2 per cent to Rs 26.32 crore in the second quarter of FY23 as compared to Rs 15.37 crore in the second quarter of FY22.

Total expenses soar by 71.5 per cent YoY to Rs 110.46 crore in Q2FY23. The cost of materials consumed stood at Rs 91.58 crore, up 89.42 per cent YoY and employee benefits expense was at Rs 446.05, up 43.84 per cent YoY in the second quarter of   FY23.

During the quarter, operational EBIDTA stood at Rs 25.09 crore as compared to Rs 14.79 crore last year, registering a growth of 70 per cent. EBITDA margin slipped to 18.7 per cent in the second quarter of  FY23 compared to 18.8 per cent posted in the second quarter of FY22.

Arindam Choudhuri, the CEO, said, “While focusing on environment protection, we already have all the best practices in place and thus ensure to keep the waste emission to a minimum and efficiently manage the release of dangerous chemicals.”

This chemicals manufacturer company caters to multiple sectors such as home care, textile, hygiene, garment, mining, leather, water treatment, paint, agrochemicals, construction and adhesives.

On the Bombay Stock Exchange (BSE), Fineotex Chemicals shares declined 2.42 per cent to recent trade at Rs 331.15.