Sumitomo Chemical India rallied 7.54% to Rs 474 after the company's consolidated net profit jumped 52.09% to Rs 109.70 crore on a 3.47% increase in revenue from operations to Rs 674.20 crore in Q4 FY24 as compared with Q4 FY23.
Profit before tax (PBT) in Q4 FY24 stood at Rs 148.80 crore, up by 82.30% from Rs 81.62 crore in Q4 FY23.Total expenditure fell by 5.85% to Rs 552.10 crore in Q4 FY24 over Q4 FY23. Cost of material consumed was at Rs 3,918.12 crore (down 3.07% YoY) and finance cost stood at Rs 13.10 core (down 5.96% YoY) during the period under review.
On full year basis, the company's consolidated net profit dropped 26.41% to Rs 369.54 crore on 18.99% decrease in revenue from operations to Rs 28,439.47 crore in FY24 over FY23.
Meanwhile, the company's board has declared a final dividend of Rs 0.90 per share for the financial year 2023-24, it will be paid on or after 5th August 2024.
Sumitomo Chemical India manufactures, imports and markets products for crop protection, grain fumigation, rodent control, bio pesticides, environmental health, professional pest control and feed additives for use in India. SCIL has also marked its presence in Africa and several other geographies of the world.
The scrip hit 52 week high at Rs 481 in intraday today.
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