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SRF Ltd, manufacturer of chemical-based industrial intermediates has reported a 41 per cent growth in its net profit for the third quarter of fiscal 2015-16. The company reported a net profit of ₹ 101 crore as compared to ₹ 71.40 crore in the same quarter last year.
The company’s net revenue for the quarter stood at ₹ 1,097 crore during the quarter a drop of 1.4 per cent over ₹ 1,113.15 crore in the same quarter last year.
The Board also approved an interim dividend at the rate of 50 per cent amounting to ₹ 5 per share. Earlier in August 2015, the board had approved the first interim dividend at the same rate of ₹ 5 per share.
“SRF’s financial results reflect the negative impact of Chennai floods on the regular operations of the company’s Manali facility,” the company said in a statement.
“The Chennai floods affected our Technical Textiles Business very badly. However, our other businesses have continued to grow well and ensured that the company has performed well this quarter,” Ashish Bharat Ram, Managing Director, SRF Ltd said.
The company’s packaging films business had a 115 per cent increase in operating profit to ₹ 43 crore, the chemicals & polymers business reported a 40 per cent increase in operating profit at ₹ 105 crore but the technical textiles business had a 50 per cent drop in operating profit at ₹ 21 crore.
On Monday, the company’s shares closed 0.19 per cent lower on the BSE at ₹ 1,133.55
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