Sumitomo Chemical Q1 net profit up 30.40% at Rs 138.41 cr
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The company reported standalone net profit of Rs 138.41 crore for the quarter ended June 30, 2022 as compared to Rs 106.14 crore in the same period last year, registering a year-on-year growth of 30.40 per cent. Net revenue of the company rose substantially by 26.11 per cent at Rs 985.53 crore in April-June quarter of this fiscal as against Rs 781.50 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 26.35 per cent to Rs 797.70 crore from Rs 631.33 crore in year ago period. Other Income dipped by 14.18 per cent at Rs 4.66 crore versus (Jun'21 Rs 5.43 crore). Operating Profit surged by 25.07 per cent to Rs 187.83 crore as against Rs 150.18 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 0.83 per cent in June quarter. Interest declined by 28.42 per cent y-o-y to Rs 1.31 crore, while Taxation increased by 13.50 per cent at Rs 41.53 crore (Jun'21 Rs 36.59 crore).
