Agarwal Industrial Corporation reports strong performance in Q2, PAT rises 178%

New Delhi (India), November: Agarwal Industrial Corporation Limited (AICL) reported a strong performance for the period ended on September 30, 2022.

The petrochemical player reported a 178 percent rise in the net profit to Rs 7.18 crore in the September 2022 quarter. The company had reported a bottom line of Rs 2.59 crore in the year ago period.

It clocked a total revenue from operations at Rs 163.44 crore in the Q2FY23, which is about 35% higher than the revenue from operations at 121.8 crore, it clocked in the same quarter previous year.

For the quarter ended on June 30, 2022, the company had reported a net profit at Rs 12.35 crore with revenue from operations at Rs 520.48 crore.

Agarwal Industrial Corporation’s earning per share (EPS) stood at Rs 5.13 in the Q2FY23, which was Rs 2.13 and Rs 9.14 in Q2FY22 and Q1FY23, respectively.

For the half year ended on September 30, 2022, ACIL’s net profit stood at 19.53 crore, which is double the net profit it reported in the same period previous year.

Company’s revenue from operations jumped more than 40% to Rs 683.91 crore for April-September 2022 period, as against an operational revenue of Rs 486.09 crore in the corresponding period last year.

Agarwal Industrial Corporation is primarily engaged in the business activities of manufacturing and trading of Petrochemicals (Bitumen and Bituminous Products), logistics of bitumen and liquefied Petroleum Gas and energy generation through Wind Mills.

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-up18news/pnn