Aarti Industries Ltd.'s consolidated net profit plunged 49% in the first quarter of fiscal 2024, missing analysts' estimates.
The specialty chemical manufacturer's profit declined to Rs 70 crore in the June quarter as compared with Rs 136 crore in the year-ago period, according to an exchange filing on Tuesday. This compares with the Rs 75.1-crore consensus estimates of analysts tracked by Bloomberg.
Aarti Industries Q1 FY24 Highlights (Consolidated, YoY)
Revenue down 12% at Rs 1,414 crore (Bloomberg estimate: Rs 1,573 crore).
Ebitda down 29% at Rs 201 crore (Bloomberg estimate: Rs 224 crore).
Margin at 14.21% vs 17.51% (Bloomberg estimate: 14.24%).
Net profit down 49% at Rs 70 crore vs Rs 136 crore (Bloomberg Estimate: Rs 75.1 crore).
Shares of Aarti Industries closed 0.37% lower at Rs 473.10 apiece before the results were announced as compared with a 0.13% fall in the benchmark NSE Nifty 50.
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