Clean Science & Technology Q2 Results: Profit Falls 23%, Misses Estimate
Clean Science and Technology Ltd.'s profit fell 23% during the quarter-ended September, according to an exchange filing on Thursday. This compares with a Bloomberg estimate of Rs 61.3 crore.
Clean Science & Technology Q2 FY24 Highlights (Consolidated, YoY)
Revenue down 26.8% at Rs 181 crore vs Rs 248 crore (Bloomberg estimate: Rs 190.24 crore).
Ebitda down 23.3% at Rs 74.8 crore vs Rs 97.5 crore (Bloomberg estimate: Rs 76.51 crore).
Margin at 41.3% vs 39.4% (Bloomberg estimate: 40.20%).
Reported profit down 23.2% at Rs 52.2 crore vs Rs 67.9 crore (Bloomberg estimates: Rs 61.32 crore).
Other Highlights
Lower realisation impacted the revenue growth.
Moderation in raw material prices and improved profit contribution from relatively newer products led to higher Ebitda margin during the quarter.
Incurred total capex of ~ Rs 165 crore during H1, including investment in subsidiary of Rs 155 crore.
Clean Fino-Chem Ltd. construction work on track, with commercialisation estimated from Q4.
Shares of the chemical manufacturing company advanced 0.99% to Rs 1,358.6 apiece, compared to a rise of 0.65% in the benchmark NSE Nifty 50 at 1:15 p.m. on Thursday.
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