Latest News | Galaxy Surfactants' Q1 PAT Jumps 36 Pc to Rs 76.8 Cr

Mumbai, Aug 10 (PTI) Galaxy Surfactants on Tuesday reported a 36 per cent jump in profit after tax to Rs 76.8 crore for the June 2021 quarter.

The company's PAT stood at Rs 56.5 crore during the corresponding quarter of 2020-21, Galaxy Surfactants said in a statement.

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Its total revenue in April-June 2021 grew 36.7 per cent to Rs 830.9 crore, compared with Rs 607.8 crore in the year-ago period.

"The financial year 2021-22 has begun on a strong note, sustaining the momentum seen in FY21. While the demand outlook continues to remain robust, as seen by the volume growth registered in this quarter of 15.4 per cent, worsening international logistics scenario continues to adversely impact the business.

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"Unavailability of critical raw materials in the first quarter further compounded the situation, restricting growth," Galaxy Surfactants Managing Director U Shekhar said.

He said that segment wise, specialty products made a strong comeback in this quarter registering a 36.1 per cent volumes growth.

While this may be on a favourable base, the momentum has sequentially sustained, despite the worsening logistics scenario and the second wave of the pandemic, he noted.

"The momentum in performance surfactants remains robust. While India and the rest of the world markets saw volume growth of more than 25 per cent, Africa, Middle East, Turkey (AMET) volumes got adversely impacted due to supply side constraints," he added.

Despite the multitude of challenges on hand, the firm's teams have responded exceptionally well. "While we expect the international logistics and volatile raw materials scenario to continue, the robust demand scenario gives us the required conviction and confidence for the quarters ahead."

Shares of the company on Tuesday closed at Rs 3,153 apiece, down 1.99 per cent on the BSE. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)