Laxmi Organic Industries was locked in a lower circuit of 5% at Rs 434.40 after the company posted a 39.6% fall in consolidated net profit to Rs 14.57 crore in Q2 FY22 from Rs 24.13 crore in Q2 FY21.
Revenue from operations surged 48.4% to Rs 608 crore in Q2 FY22 from Rs 409.79 crore posted in Q2 FY21. Profit before tax declined 12.3% to Rs 25.21 crore in Q2 FY22 over Q2 FY21.Total expenses spiked 54% to Rs 58.95 crore in Q2 FY22 from Rs 38.14 crore in Q2 FY21. Cost material consumed jumped 84% to Rs 32.87 crore in Q2 FY22 over Q2 FY21.
Laxmi Organic Industries is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost three decades of experience in large scale manufacturing of chemicals.
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