Indian firm GHCL's net profit soars 212% in Q2FY23

The company’s inorganics chemical division’s revenue grew by 98 per cent to ₹1,130 crore in the second quarter of fiscal 2023 as compared to ₹572 crore in the second quarter of fiscal 2022. Textiles business revenue rose by 11 per cent to ₹260 crore in the second quarter of fiscal 2023 as compared to ₹233 crore in the second quarter of fiscal 2022.

In the third quarter of fiscal 2023, the company’s EBIDTA increased by 159 per cent to ₹442 crore as compared to ₹171 crore in the second quarter of fiscal 2022, the company said in a press release.

“Our robust performance in Q2 FY23 is a testimony to our focus on operational excellence and sustainable business practices. These factors coupled with a positive demand and our ability to leverage our manufacturing expertise have been instrumental in ensuring strong topline and profitability trends. I believe that we are well poised to channelise our experience and expertise to demonstrate an industry leading performance in the years to come,” RS Jalan, managing director, GHCL, said.

Fibre2Fashion News Desk (RR)