SRF Limited Reports Unaudited Consolidated and Standalone Earnings Results for the First Quarter Ended June 30, 2016
August 08, 2016 at 08:12 am EDT
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SRF Limited reported unaudited consolidated and standalone earnings results for the first quarter ended June 30, 2016. For the quarter, on consolidated basis, the company reported net sales (net of excise duty) of INR 11,950.8 million compared to INR 12,054.5 million a year ago. Profit from operations before other income, finance costs, exchange currency fluctuation and exceptional items was INR 2,170.2 million compared to INR 1,955.0 million a year ago. Profit from ordinary activities before tax was INR 1,943.2 million compared to INR 1,656.5 million a year ago. Net profit from ordinary activities after tax was INR 1,441.9 million or INR 25.11 per basic and diluted share compared to INR 1,134.2 million or INR 19.75 per basic and diluted share a year ago. EBITDA was INR 1,943 million against INR 1,657 million a year ago.
For the quarter, on standalone basis, the company reported net sales (net of excise duty) of INR 9,614.3 million compared to INR 9,504.4 million a year ago. Profit from operations before other income, finance costs, exchange currency fluctuation and exceptional items was INR 1,801.3 million compared to INR 1,693.7 million a year ago. Profit from ordinary activities before tax was INR 1,659.6 million compared to INR 1,501.9 million a year ago. Net profit from ordinary activities after tax was INR 1,194.9 million or INR 20.81 per basic and diluted share compared to INR 1,055.3 million or INR 18.38 per basic and diluted share a year ago.
SRF Limited is a chemical-based multi-business company engaged in the manufacturing of industrial and specialty intermediates. The Company's segments include Technical Textiles Business (TTB), Chemicals Business (CB), Packaging Film Business (PFB) and Others. The TTB segment's business includes nylon tire cord fabric, belting fabric, polyester tire cord fabric and industrial yarns and its research and development. The CB segment's business includes refrigerant gases, industrial chemicals, specialty chemicals, fluorochemicals and allied products and its research and development. The PFB segment's business includes polyester films and polypropylene films. The others segment includes coated fabric, laminated fabric and other ancillary activities. The Company has around 12 manufacturing plants in India and one each in Thailand, South Africa and Hungary. The Company exports to over 90 countries. It serves various industries, such as automotive, pharmaceuticals, manufacturing and chemicals.