Wed, 22 Sep 2021

Mumbai (Maharashtra) [India], July 31 (ANI): Speciality chemicals manufacturer Rossari Biotech on Saturday posted 58 per cent jump in its profit after tax of Rs 25 crore during April to June as compared to Rs 15 crore in the corresponding period of previous fiscal.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) moved up 56 per cent to Rs 37 crore in Q1 FY22 from Rs 24 crore in Q1 FY21.

Revenues from operations stood at Rs 231 crore as against Rs 109 crore, higher by 111 per cent. Earnings per share (diluted) stood at Rs 4.49 as against Rs 3.14.

Edward Menezes, Promoter and Executive Chairman, said although broader operating constraints due to lockdown restrictions moderated growth of the company's textile specialty chemicals business sequentially, there has been sustained improvement in sales from June onwards.

In addition, he said, higher consumption in the animal health and nutrition segment assisted overall results.

Rossari is acquiring 100 per cent equity capital of Unitop Chemicals, a leading supplier of surfactants, emulsifiers and specialty chemicals to domestic and international companies, for Rs 421 crore.

It will also acquire 100 per cent equity share capital of Tristar Intermediates, a prominent company in the field of preservatives, aroma chemicals, and homepersonal care additives with high-tech distillation facilities, for Rs 120 crore. (ANI)

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