Markets

GHCL Q2 results: Net profit down 28% to Rs 85 cr

New Delhi: Chemicals and textiles manufacturer GHCL Ltd on Monday reported a 27.71 per cent decline in consolidated net profit to Rs 84.86 crore for the quarter ended September 2020. The company had posted a consolidated net profit of Rs 116.84 crore in the July-September period a year ago, GHCL said in a regulatory filing.

Revenue from operations dipped 3.47 per cent to Rs 806.51 crore as against Rs 835.52 crore in the corresponding period of the previous financial year, it added.

Total expenses stood at Rs 703.84 crore, almost unchanged from Rs 703.18 crore in Q2 FY2019-20.

GHCL Managing Director R S Jalan said the company’s businesses are returning towards normal.

“Better consumption patterns, robust improvement in operational efficiencies, cost reduction programs coupled with volume growth have led to improved financial performance,” he said.

Revenue from inorganic chemicals segment was down 11.37 per cent to Rs 479.90 crore as against Rs 541.50 crore earlier.

Home textiles revenue rose 11.08 per cent to Rs 326.61 crore as against Rs 294.02 crore.

Shares of GHCL Ltd on Monday settled at Rs 162.95 on BSE, up 3.10 per cent from its previous close.

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