Chemicals maker Anupam Rasayan India Ltd on Friday reported a multi-fold jump in its consolidated net profit at Rs 32.12 crore in the first quarter of 2021-22 fiscal.
The company had posted a net profit of 0.226 crore in the same quarter of the previous fiscal, according to the BSE filing.
Net revenue increased on a consolidated basis to Rs 237.9 crore in the April-June quarter of 2021-22 fiscal from Rs 134.6 crore in the year-ago period.
Expenses remained higher at Rs 194 crore as against 132.6 crore in the said period.
Commenting on the performance, the company's Managing Director Anand Desai said as a result of the company's timely debt repayment, the company's balance sheet has become leaner and more in line with the company's scale of operations.
"We have clearly defined strategic objectives of increasing capital efficiency, capturing profitable growth, and generating positive cash flow which will lead to a significant increase in RoE (Return on Equity) and RoCE (Return on Capital Employed)," he said.
He said the company will continue to increase its investments in research and development, especially in light of increasing inquiries received from major MNCs recently exhibiting promising market potential.
Shares of the company closed up 0.33 per cent at Rs 712.95 apiece on the BSE on Friday.
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