Rossari Biotech Q2 Results: Profit Rises 7.3%; Arm To Acquire Thailand-Based Unistar Thai
Unistar Thai Co. is a newly incorporated company in the chemicals and consumer products industry and is yet to commence its operations.
Rossari Biotech Ltd. reported a 7.3% year-on-year rise in its consolidated net profit for the quarter ended September on a revenue increase of 3.1%.
In an exchange filing, the company said that its consolidated net profit for the September quarter came in at Rs 35.3 crore as against Rs 32.9 crore in the reporting quarter a year ago, and its consolidated revenue rose to Rs 498 crore from Rs 483 crore in the year ago quarter.
Consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda), or operating profit grew by 3.6% in the year to Rs 65.8 crore compared to Rs 63.5 crore a year ago. Ebitda margin expanded slightly by 13.2% from13.1%.
In addition, the company informed the exchanges that it will hold an extraordinary general meeting on Nov. 11 to fix a record/cutoff date for an undisclosed purpose.
Moreover, the company said that its wholly owned subsidiary, Rossari Global DMCC has agreed to acquire 100% of the total equity share capital of Unistar Thai Co., from all the existing shareholders of Unistar.
Unistar Thai Co. is a newly incorporated company in the chemicals and consumer products industry and is yet to commence its operations.
The filing said that the aggregate cost of acquisition is Thai Bhat 12,50,000 subject to certain post-completion adjustments, if any, in accordance with the terms and conditions set out in the SPA.
The company said that this acquisition will be completed by quarter ending Dec. 20
