Meghmani Finechem Ltd (MFL) posted 192 per cent jump in standalone net profit at ₹108 crore for the quarter ended June 30, 2022 against a net profit of ₹37 crore in the corresponding quarter a year ago.
It registered highest-ever revenues from operations, which rose 84 per cent to ₹533 crore (₹290 crore).
The revenue growth was driven by improved realisations and higher sales volume of 5 per cent, the company said.
EBITDA for the quarter doubled to ₹187 crore with EBITDA margins improving to 35 per cent despite high inflationary pressures, a company statement said.
The profit margins stood at 20 per cent for the quarter against 13 per cent in the corresponding quarter a year ago.
Plant utilisation
On the operations front, the company's overall plant utilisation increased to 94 per cent in first quarter of the fiscal compared to 87 per cent in first quarter of the last fiscal. Capacity utilisation for Chlor-Alkai stood at 94 per cent, CMS stood at 105 per cent and H2O2 stood at 94 per cent, which is the highest ever. The company said its electro chemical unit (ECU) realisations from caustic soda and caustic potash was up 104 per cent & 130 per cent respectively.
Maulik Patel, Chairman and Managing Director, MFL said, "We have delivered record operating and financial performance for the quarter. The growth in the quarter is on account of high realizations and volume growth coming from high efficiency/capacity utilization from all the products."
MFL shares ended at ₹1559.45, down 1.2 per cent from previous close, on the BSE.