Fineotex Chemical reported a 20% rise in consolidated net profit to Rs 22.15 crore on 4% increase in revenue from operations to Rs 109.23 crore in Q3 FY23 over Q3 FY22.
Consolidated profit before tax stood at Rs 29.04 crore in Q3 FY23 as against Rs 25.36 crore posted in Q3 FY22, recording a growth of 14.5%.
Operational EBIDTA rose 13.85% to Rs 28.55 crore in Q3 FY23 from Rs 25.08 crore posted in the same period a year ago.
Meanwhile, the company said that CRISIL has upgraded its long term rating and short term rating on the bank facilities of the company.
CRISIL has upgraded the long-term rating of Fineotex Chemical to 'CRISIL A/Stable' from 'CRISIL A-/Stable'. It has also upgraded the short- term rating to ' CRISIL A1' from ' CRISIL A2+'.
Fineotex Chemical is engaged in the business of manufacturing of textile chemicals, auxiliaries and specialty chemicals.
Shares of Fineotex Chemical declined 1.74% to end at Rs 226.40 on Friday, 27 January 2023.
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