Vinati Organics drops 3% after 28% decline in net profit in June quarter

The company’s earnings before interest, taxes, depreciation, and amortisation or EBITDA of Rs 109 crore was significantly low compared to Rs 152.2 crore in the year-ago quarter. Its EBITDA dropped 28.4 percent YoY.

Vinati Organics’ EBITDA margin also followed a falling trend in the April to June 2023 quarter, just as other financial figures for the period. The margin was reported at 25.3 percent in Q1FY24 as compared to 30.2 percent in the year-ago quarter.

The chemicals manufacturer’s total expenses in the June quarter dropped 7.9 percent on a YoY basis to Rs 335.5 crore compared to Rs 364.26 crore in the June quarter of the preceding fiscal year.

Further, the company’s Earnings Per Share (EPS) slashed 27.8 percent in Q1FY24 to Rs 8.1 as opposed to Rs 11.22 in the same quarter last year.

Vinati Organics Ltd is a specialty chemical company which manufactures and distributes organic intermediates, monomers and polymers. The product portfolio of the company includes aromatics, industrial monomers and industrial polymers.

Shares of Vinati Organics were trading at Rs 1,823.05 per piece, down 2.1 percent, on the BSE at 2:45 PM.