Thirumalai Chemicals dropped 9.59% to Rs 225.30 after the company's consolidated net profit declined 7.77% to Rs 60.05 crore in Q1 FY23 as against Rs 65.11 crore posted in Q1 FY22.
Revenue from operations surged 56.4% to Rs 621.05 crore in the quarter ended 30 June 2022 as against Rs 397.10 crore in Q1 FY22.
Profit before tax fell 6.57% to Rs 81.07 crore in Q1 FY23 as against Rs 86.77 crore in the corresponding quarter previous year.
The company reported a 73.74% spike in total expenses to Rs 543.18 crore in Q1 FY23 over Q1 FY22. During the quarter, cost of material consumed soared 66.54% to Rs 409.68 crore and employee benefit expenses jumped 13.23% to Rs 18.91 crore.
Thirumalai Chemicals manufactures organic chemicals. It ranks among the largest producers in the world of Phthalic Anhydride, Malic Acid, Maleic Anhydride and Fumaric Acid.
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