Kanoria Chemicals reports 43 per cent revenue growth

Kanoria Chemicals & Industries Limited (KCI) reported its results for the quarter ended September 30, 2018 during market hours on Wednesday.

Kanoria Chemicals' standalone revenue for the quarter came in at Rs. 133.72 crore, registering 43 per cent yoy increase. EBITDA for the quarter rose by 6 per cent yoy to Rs. 15.28 crore with a corresponding margin contraction of 398 bps. EBITDA margin for the quarter stood at 11.4 per cent. This margin contraction was on account of higher manufacturing costs.

The net profit for the quarter came in at Rs. 5.33 crore, yoy increase of 6.2 per cent. PAT margin during the quarter stood at 4 per cent which was 5.36 per cent for the same quarter last fiscal. Margin pressure was due to lower other income and increase in finance costs.

On Wednesday, the stock reacted positively to the results to show a gain of 4 per cent and closed at a price of Rs. 66.64 per share on BSE.