Mumbai, May 9 (PTI) Industrial and specialty intermediates manufacturer SRF on Tuesday reported a 7.13 per cent decline in consolidated net profit after tax at Rs 562.45 crore in the March quarter.

The company's Profit After Tax (PAT) stood at Rs 605.65 crore during the corresponding period of 2022-23, SRF said in a regulatory filing.

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During the quarter under review, SRF's revenue from operations grew 6.10 per cent to Rs 3,719.30 crore as compared with Rs 3,505.28 crore in the year-ago period.

"It has been an excellent year for the company. Despite weakness in our technical textiles and packaging films businesses due to cyclical reasons, we have seen the chemicals business deliver outstanding results. This shows the resilience of our business model and I remain cautiously optimistic about the future," SRF Chairman and Managing Director Ashish Bharat Ram said.

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In FY23, the company's PAT increased 14.47 per cent to Rs 2,162.34 crore from Rs 1,888.92 crore during FY22.

Revenue from operations of the company in FY23 rose 18.50 per cent to Rs 14,591.82 crore from Rs 12,312.75 crore in the year-ago period.

Shares of the company on Tuesday settled 1.66 per cent higher at Rs 2,587.40 per piece on the BSE.

(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)