Multi-business company SRF Ltd reported an 11 per cent growth in its standalone net profit for the fourth quarter of fiscal 2014-15. The company’s net profit stood at ₹ 59 crore as against ₹ 53 crore in the same quarter last year.
The profits improved despite a 4 per cent drop in its net sales to ₹ 847 crore during the quarter. “The increase in net profit was mainly due to the sharp decline in crude oil prices,” the company said in a statement.
“In spite of an adverse impact of raw material prices in the second half of the year we were able to increase our profitability. Our investments in the chemicals and polyester films businesses are paying off and we remain confident of our ability to reap the benefits of an upturn in the economy,” said Ashish Bharat Ram, Managing Director, SRF.
The company also announced its consolidated annual results. It reported an 86 per cent increase in consolidated net profit for the 2014-15 fiscal at ₹ 303 crore. Its consolidated net sales also improved 13 per cent to ₹ 4,492 crore as against ₹ 3,993 crore in the previous fiscal.
On Monday, the company’s shares closed 0.93 per cent higher on the BSE at ₹ 946.50.