Balaji Amines Q1 Results: Profit Down 33%, Misses Estimates

Balaji Amines Ltd. reported a 32.7% fall in its net profit on a yearly basis for the first quarter of this financial year, missing street expectations.

The chemical manufacturing company reported a bottom line of Rs 45.6 crore in the quarter-ended June, as compared with Rs 67.7 crore in the same quarter of the previous fiscal, according to its stock exchange notification. This compares with the Rs 70-crore analysts' estimate tracked by Bloomberg.

The company's revenue fell by 17% year-on-year to Rs 385 crore. Analysts tracked by Bloomberg had pegged the top-line at Rs 418 crore.

Operating income, or earnings before interest and tax depreciation and amortisation, fell 32.6% on a yearly basis to Rs 66 crore, while the Ebitda margin contracted to 17.2% from 21.1% in the corresponding quarter of the last fiscal. The analyst consensus estimates for Ebitda and Ebitda margin tracked by Bloomberg stood at Rs 103 crore and 24.5%, respectively.

Shares of the company rose by 4.51% to close at Rs 2,396 apiece on the NSE, as compared to a 1.27% advance in the benchmark Nifty.