SRF Q2 profit jumps 61% to Rs 76.85 crore

SRF Ltd, a leading manufacturer of chemical-based industrial intermediates, today reported an increase of 60.87% in net profit at Rs 76.85 crore for the second quarter ended September 30, 2014.

The company had posted a net profit of Rs 47.77 crore during the same quarter a year ago.

Total income from operations during the July-September quarter also increased 9.98% to Rs 928.17 crore as against Rs 843.89 crore a year ago, SRF said in a BSE filing.

"The overall operations performed well this quarter. The company's strategy of growing the chemicals business is paying dividends. Our traditional business should pick once economy rebounds," said SRF Managing Director Ashish Bharat Ram.

For the first half of the 2014-15 fiscal, SRF's net profit has also increased 92.53% to Rs 176.32 crore as against Rs 91.58 crore in the year-ago period.

Total income from operation in the first half of the fiscal increased 12.07% to Rs 1,870.26 crore, as against Rs 1,668.80 crore in the same period last year.

Shares of SRF Ltd today closed at Rs 671.55 on the BSE, down 0.81% from previous close.