Q1FY19 Result: Fineotex Chemical PAT jumps 136 per cent yoy

Fineotex Chemical reported its results for the quarter ended June 30, 2018. Fineotex Chemical consolidated revenue for the quarter came in at Rs. 42.86 crore, registering 6.5 per cent yoy increase.

EBITDA for the quarter rose by 23.8 per cent yoy to Rs. 10 crore with a corresponding margin expansion of 327 bps. EBITDA margin for the quarter stood at 23.4 per cent. The PAT for the quarter came in at Rs. 6.47 crore, yoy increase of 136.1 per cent. This was due to improvement in working capital management and non-operating income.

Fineotex group is one of the leading manufacturers of chemicals for textiles, construction, water-treatment, fertilizer, leather and paint industry. They also produce adhesives used in several industries like wood, paper etc.

On Friday, the stock opened at Rs. 57.30 per share and touched the intraday high and low of Rs. 58.75 per share and Rs 57.00 respectively on BSE and at 11.10 am the stock was trading at Rs. 57.85