Ami Organics Q1 Results: Profit Rises 12%, But Misses Estimates

The company's first-quarter net profit rose 12% YoY to Rs 16.6 crore, missing Bloomberg estimate of Rs 24.5 crore.

<div class="paragraphs"><p>Chemical solution sits in a flask inside&nbsp;a R&amp;D lab. (Source: )</p></div>
Chemical solution sits in a flask inside a R&D lab. (Source: )

Ami Organics Ltd.'s profit rose in the first quarter, but missed analysts' estimates.

The company's net profit increased 12% year-on-year to Rs 16.6 crore in the quarter ended June, according to an exchange filing on Friday. This compares with a Bloomberg estimate of Rs 24.5 crore.

Ami Organics Q1 FY24 Highlights (Consolidated, YoY)

  • Revenue up 8.66% at Rs 142.4 crore. (Bloomberg estimate: Rs 171.2 crore).

  • Ebitda up 9.73% at Rs 25.1 crore. (Bloomberg estimate: Rs 36.4 crore).

  • Margins at 17.66% versus 17.48%.

  • Net profit up 12% at Rs 16.6 crore. (Bloomberg estimate: Rs 24.5 crore).

Shares of company advanced 2.31% to Rs 1238.10 apiece, compared to a fall of 0.35% in the benchmark NSE Nifty 50 on Friday at 1:07 p.m.