Alkyl Amines Chemicals declined 2.33% to Rs 2,308.15 after the company reported 26.85% decline in net profit to Rs 33.43 crore on 17.07% slide in revenue from operations to Rs 322.05 crore in Q3 FY24 over Q3 FY23.
Profit before tax in Q3 FY24 stood at Rs 46.33 crore, down by 26.04% from Rs 62.64 crore in Q3 FY23.Total expenses during the quarter reduced 15.12% YoY to Rs 280.34 crore, due to lower raw material costs (down 18.01% YoY) and other expenses (down 27.3% YoY).
Meanwhile, the company informed that its new ethyl amines plant at Kurkumbh site in Maharashtra is fully operational now. Hence, in order to meet the growing demand for its products, the old Ethyl Amines production facility shall be utilised for manufacturing of methyl amines, thereby enhancing the production capacity of methyl amines.
Alkyl Amines Chemicals is a global supplier of aliphatic amines, specialty amines and amine derivatives to the pharmaceutical, agrochemical, water treatment, rubber chemical and a variety of industries.
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