Laxmi Organic Industries fell 2.63% to Rs 281.75 after the company's consolidated net profit slumped 61.4% to Rs 27.23 crore in Q3 FY23 as against Rs 70.54 crore reported in Q3 FY22.
Revenue from operations stood at Rs 654.64 crore in the quarter ended 31 December 2022 from Rs 859.88 crore posted in Q3 FY22, registering a decline of 23.87%.
Consolidated profit before tax dropped 62.24% to Rs 33.54 crore in Q3 FY23 as compared to Rs 88.82 crore posted in the corresponding quarter previous year.
Total expenses declined 19.24% year on year to Rs 624.35 crore in the quarter ended 31 December 2022.
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.
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