Vinati Organics net profit grows 122 per cent

Vinati Organics Limited reported stellar results for the quarter ended December, 2018 on Wednesday. Reacting to the results, the stock of Vinati Organics was up by more than 2 per cent on BSE.

The company's revenue for Q3FY19 came in at Rs. 303 crore as against Rs. 186 crore in the corresponding quarter last year, registering an increase of 63 per cent YoY.

The EBITDA for the quarter rose by 114 per cent YoY to Rs. 106 crore as against Rs. 49.5 crore in the corresponding quarter last year. The EBITDA margin for the quarter stood at 35 per cent as against 26.6 per cent YoY.

The PAT for the quarter came in at Rs. 71 crore as against Rs. 32 crore in the corresponding quarter last year, an increase of 122 per cent YoY.

Vinati Organics is a leading specialty chemicals company focusing on manufacturing specialty chemicals and organic intermediaries. The company is the largest producers of 2-acrylamido 2 methylpropane sulfonic acid (ATBS), IBB (iso butyl benzene) and IB (iso butylene) products in India.

On Wednesday, the stock opened at Rs.1,560.00 per share and touched an intraday high of Rs. 1,647.10 and an intraday low of Rs. 1,550.00. At 14:55 hours, the stock was quoting Rs. 1,585.00, up by Rs. 32.05 or 2.06 per cent on BSE.