Laxmi Organic Industries's consolidated net profit fell 36.6% to Rs 64.86 crore on a 2.8% rise in net sales to Rs 756.61 crore in Q1 FY23 over Q1 FY22.
Profit before tax declined 36% to Rs 86.89 crore in Q1 FY23 over Rs 135.86 crore in Q1 FY22.Total expenses rose 11% to Rs 671.83 crore in Q1 FY23 from Rs 604.76 crore posted in Q1 FY22. Cost material consumed increased 10.5% to Rs 417.93 crore while employee benefits expense slipped 6% to Rs 28.38 crore in Q1 FY23 over Q1 FY22.
EBITDA fell 30.7% to Rs 103.6 crore in Q1 FY23 from Rs 149.6 crore in Q1 FY22. EBITDA margin declined to 13.7% as on 30 June 2022 as against 20.3% as of 30 June 2021.
On a sequential basis, Laxmi Organic Industries posted a 13.2% rise in consolidated net profit from Rs 57.5 crore posted in Q4 FY22. Revenue from operations declined 14% quarter on quarter from Rs 879.9 crore reported in Q4 FY22.
Laxmi Organic Industries is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost three decades of experience in large scale manufacturing of chemicals.
Shares of Laxmi Organic Industries advanced 5.62% to Rs 308.40 on the BSE.
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