Laxmi Organic Industries Ltd.'s net profit increased 25% in the second quarter of fiscal 2024, but missed analysts' estimates.
The specialty chemical manufacturer's profit rose to Rs 10.7 crore in the July–September quarter, in comparison with Rs 8.5 crore in the year-ago period, according to the exchange filing. That compares with the Rs 20-crore consensus estimate of analysts tracked by Bloomberg.
Laxmi Organic Q2 FY24 Highlights (Consolidated, YoY)
Revenue up 0.015% at Rs 652.2 crore vs Rs 652.1 crore (Bloomberg estimate: Rs 640 crore).
Ebitda up 36.61% at Rs 38.80 crore vs Rs 28.4 crore (Bloomberg estimate: Rs 50 crore).
Margin at 5.94% vs 4.35%.
Net profit up 25.88% at Rs 10.7 crore vs Rs 8.5 crore (Bloomberg estimate: Rs 20 crore).
Shares of Laxmi Organic Industries closed 2.86% lower at Rs 251 apiece before the results were announced, as compared with a fall of 1.39% in the benchmark NSE Nifty 50.
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