Latest News | Galaxy Surfactants Q3 PAT Up 77.59 Pc at Rs 85.23 Crore

Mumbai, Feb 8 (PTI) Surfactants and other specialty ingredients maker Galaxy Surfactants on Monday reported a 77.59 per cent growth in profit after tax (PAT) during the quarter ending December 31, 2020, at Rs 85.23 crore compared to the same period of the previous financial year.

The company's PAT stood at Rs 47.99 crore during the same quarter of 2019-20, Galaxy Surfactants said in a BSE filing.

The total revenue from operations grew by 7.9 per cent during the quarter under review to Rs 674.70 crore compared to Rs 625.89 crore in the same quarter of FY2019-20.

"The PAT during the third quarter has surged mainly on account of growth in all financial parameters we measure ourselves in both ingredient and specialty segments. We had also received an accumulated export benefit, due from last 2-3 years, from our Egypt operations," Galaxy Surfactants Managing Director U Shekhar told PTI.

He said if the second quarter stood for recovery, the third quarter stands for normalisation, sustenance and resumption of the growth trajectory.

This quarter also marks the first in FY21, where the company's Specialty Portfolio has registered year on year growth, arresting the decline reported in the last few quarters, he stated.

"Demand continues to remain robust for our performance surfactants, thus clearly highlighting the resilience and robustness of your company's business model. With the vaccination drive gaining traction, opening up of the economies with greater consciousness about health and hygiene should augur well for our performance... premium specialty products," he said.

While demand continues to remain robust, rising volatility in raw material prices, supply chain disruptions pose the biggest risks in servicing this underlying demand, he noted.

"But, despite the challenges and none bigger than the one seen this year, we remain confident and optimistic about our growth journey. We expect that the last quarter of this financial year will be able to sustain this growth temo," he added.

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