Vipul Organics announces Q3 results for FY 2023-2024
Vipul Organics, a leading specialty chemicals company in the pigments and dyes segment, announced their quarter 3 results for FY23-24. The total revenue in Q3 of FY23-24 moved up by 34.88% from Q3 of FY22-23. Whereas the total PAT in Q3 of FY23-24 was up by 650.19% from Q3 of FY22-23 on a consolidated basis and up by 517.54% on a standalone basis.
Total revenue on a Y-o-Y basis moved from Rs. 2788.49 lakh in the previous year to Rs. 3761 lakh in Q3 FY23-24. Compared to the previous quarter of FY23-24 the total revenue grew from Rs. 3660.19 lakh to Rs. 3761 lakh. The PAT in Q3 of FY23-24 is at Rs. 79.91 lakh and Rs. 79.67 lakh on a standalone and consolidated basis respectively.
Revenue in the nine months ended 31 December 2023 stood at Rs. 11044.99 lakh, up by 7.59% from the nine months ended on 31 December 2022 (Rs. 10,266.09 lakh). Total PAT for the same was up by 43.36% on a consolidated basis and 41.20% on a standalone basis. PAT on 31 December 2022 was Rs. 161.13 lakh and Rs.158.11 lakh on a standalone and consolidated basis respectively.
Commenting on the results, Vipul Shah, managing director, Vipul Organics, said, “The green shoots in the economy are reflected in our results. We are back on our growth trajectory, post the economic shocks of Covid. In this quarter, we also lay the foundation stone for our new facility at Sayakha which will be revenue accretive from FY25-26. While global macroeconomic factors are still a concern, we are seeing a robust demand for our products in the domestic market. Our newer offerings in sectors like paper and textiles are seeing huge traction and we are hoping for orders in the coming quarters”.
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