Laxmi Organic Q3 Results: Profit Flat At Rs 27 Crore, Misses Estimates
The specialty chemical manufacturer's profit fell to Rs 27.2 crore in the third quarter, in comparison with Rs 27.3 crore over the same period last year.
Laxmi Organic Industries Ltd.'s net profit decreased 0.3% in the third quarter of fiscal 2024.
The specialty chemical manufacturer's profit fell to Rs 27.2 crore in the October-December quarter, in comparison with Rs 27.3 crore in the year-ago period, according to its exchange filing. That compares with the Rs 32.3 crore consensus estimate of analysts tracked by Bloomberg.
Laxmi Organic Q3 FY24 (Consolidated, YoY)
Revenue up 6.1% at Rs 694.3 crore vs Rs 654.6 crore (Bloomberg estimate: Rs 665.7 crore).
Ebitda down 4.8% at Rs 52.19 crore vs Rs 54.8 crore (Bloomberg estimate: Rs 61 crore).
Margin down 85 bps at 7.51% vs 8.37%.
Net profit down 0.3% at Rs 27.2 crore vs Rs 27.3 crore (Bloomberg estimate: Rs 32.3 crore).
Shares of Laxmi Organic Industries closed 1.08% higher at Rs 271.75 apiece before the results were announced, as compared with a rise of 1.01% in the benchmark NSE Nifty 50.
