Fineotex Chemical reports strong performance in Q3FY18

Fineotex Chemical reported its third quarter results for FY18 on Wednesday. 

Fineotex Chemical standalone revenue for the quarter came in at Rs. 23.3 crore, registering an increase of 14.9% YoY. 

The company's EBITDA for the quarter rose by 17.3% YoY to Rs. 5.42 crore, with corresponding margin expansion of 47 bps. The EBITDA margin for the quarter stood at 23.3%. 

Its PAT for the quarter came in at Rs 7.92 crore, an increase of 88.6% YoY. This was due to substantial increase in other income to Rs. 4.36 crore as against Rs. 0.75 crore in the corresponding quarter of last year. 

The board of directors declared interim dividend of Rs. 0.2 per equity share of face value Rs. 2 each. The record date for this dividend is fixed on February 22,  2018. 

Fineotex Chemical is a manufacturer of specialty chemicals predominantly for the textile sector. The company manufactures over 400 specialty chemicals and enzymes for various industries, including textiles, garments, construction, leather, water treatment, agrochemicals, adhesives, among others.