Chembond Chemicals hit an upper circuit of 20% at Rs 210.95 after the company reported a 247.62% surge in consolidated net profit to Rs 8.45 crore in Q3 FY21 from Rs 2.43 crore in Q3 FY20.
Net sales during the quarter increased by 12.51% year-on-year (YoY) to Rs 75.19 crore. Other income surged 95.66% to Rs 6.05 crore in Q3 December 2020 from Rs 3.09 crore in Q3 December 2019.
Total expenditure rose 6% to Rs 69.93 crore in Q3 December 2020 over Q3 December 2019. Profit before tax in Q3 FY21 stood at Rs 11.32 crore, up by 185.75% from Rs 3.96 crore in Q3 FY20. Current tax in the third quarter increased by 96% YoY to Rs 2.71 crore.
Chembond Chemicals manufactures a diverse range of specialty chemicals like water treatment, polymers, construction chemicals, high performance coatings, animal nutrition's and industrial biotech products. The company's varied product line allows it to serve industries across most segments of manufacturing in India.
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