During the March quarter, Aditya Birla Chemicals' net profit fell 91% even as its sales rose 33%
Aditya Birla Chemicals (India) Ltd shares fell over 18% on Thursday following a steep fall in its March quarter net profit.
For the quarter to end-March, Aditya Birla Chemicals' net profit fell 91% to Rs0.74 crore from Rs7.84 crore even as its total revenues, including sales, grew 33% to Rs281.74 crore from Rs211.80 crore, same period a year ago.
For the 12 months to end-March, the chemical producer reported a net profit of Rs49.74 crore and total revenues, including sales of Rs1,066 crore.
The company clarified that its FY14 results are not fully comparable with earlier period.
Aditya Birla Chemicals has acquired the business comprising of Chlor Alkali & Phosphoric Acid plant at Karnataka and salt works at Gujarat from Solaris Chemtech Industries for Rs153 crore on 1 September 2013, which contributed to sales growth of the Aditya Birla Chemicals during the FY14.
Aditya Birla Chemicals has made provisions of Rs20.72 crore for current tax, wealth tax and deferred tax. Its reserves and surplus increased 12.90% to Rs399.40 crore from Rs353.76 crore a year ago period.
Aditya Birla Chemicals declared a dividend of Rs1.50 per share.
Aditya Birla Chemicals closed Thursday 18% down at Rs158 on the BSE, while the S&P BSE Sensex ended the day marginally higher at 22,376.
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