Latest News | Himadri Speciality Q1 Net Profit Grows 48 Pc to Rs 183 Cr
Get latest articles and stories on Latest News at LatestLY. Clean tech company Himadri Speciality on Tuesday reported a 48 per cent rise in standalone net profit to Rs 183 crore in the April-June quarter of this fiscal year, as the company reduced its expenses.
New Delhi, Jul 15 (PTI) Clean tech company Himadri Speciality on Tuesday reported a 48 per cent rise in standalone net profit to Rs 183 crore in the April-June quarter of this fiscal year, as the company reduced its expenses.
It had clocked net profit of Rs 123.45 crore in the first quarter of FY25, the company said in a regulatory filing.
The company's revenues from operations stood at Rs 1,100.42 crore, as against Rs 1,199.77 crore in the year-ago period.
Himadri Speciality brought down its expenses to Rs 883.92 crore, from Rs 1,033.08 crore in the June quarter of the last financial year.
"We are pleased to report our highest-ever quarterly EBITDA and PAT, underscoring a strong, resilient and sustainable financial performance. For the quarter, EBITDA stood at Rs 234 crore, while Profit After Tax (PAT) came in at Rs 183 crore," said Anurag Choudhary, CMD & CEO of Himadri Speciality.
This significant growth in profitability was driven by continued focus on high-value speciality products, operation efficiencies leading to improvement in yields and strengthening of our waste heat recovery systems, he said.
In June, Himadri Speciality acquired a 16.24 per cent stake in US-based International Battery Company (IBC) to increase its presence in the mobility and energy storage sectors.
IBC operates a 50 MWh lithium-ion battery cell facility in South Korea and is developing a gigafactory in Bengaluru, India, through its joint venture with Mahanagar Gas Ltd.
Himadri Speciality product portfolio includes speciality carbon black, coal tar pitch, speciality oils, clean power, etc. catering to industries such as lithium-ion batteries, aluminium, graphite electrodes and defence.
Himadri operates in both domestic and international markets, exporting to 56 countries across the globe.
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