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SRF March quarter net profit up 11% to `59 crore

SRF Ltd, a leading manufacturer of chemical-based industrial intermediates, on Monday reported an 11 per cent growth in net profit at Rs 59 crore for the three-month period ended March 31, 2015.

The company had a net profit of Rs 53 crore in the year-ago period. However, the company’s net sales during the last quarter of 2014-15 declined by 4 per cent to Rs 847 crore. “In spite of an adverse impact of raw material prices in the second half of the year, we were able to increase our profitability. Our investments in the chemicals and polyester films businesses are paying off,” SRF MD Ashish Ram said in a statement.

Further, SRF’s annual profit after tax surged by 86 per cent to Rs 303 crore. During the period, its consolidated net sales were up by 13 per cent to Rs 4,492 crore. It also said that the company’s board has approved two separate capex proposals that include setting up a dedicated plant at Dahej to manufacture existing range of specialty chemicals being produced at its Bhiwadi plant to cater to the increasing demand from pharma sector. 
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