Vinati Organics First Quarter Results Disappoint

Vinati Organics First Quarter Results Disappoint

Vinati Organics reported lower net profit and revenue during the quarter and the stock was trading with 2.5 percent decline.

The company registered net profit at Rs 83.2 crore, lower compared to Rs 115 crore during the same period last year. The company reported 14.4 percent lower revenue at Rs 431 crore compared to Rs 503.4 crore. The company also suffered a decline in margins.

As per the statement issued to the exchanges, Vinati Organics registered EBITDA, down 28.4 percent at Rs 109 crore from Rs 152.2 crore and EBITDA margin at 25.3 percent compared to 30.2 percent.

Vinati Organics is a specialty chemical company producing organic intermediates, monomers and polymers. The company is the manufacturer of ibuprofen, and two chemicals used as a basic raw material for the manufacture of ibuprofen. The products also include aromatics, industrial monomers and industrial polymers and they have strong presence in the market.

The stock was trading 2.3 percent lower at Rs 1,818.90.