Specialty care products maker Galaxy Surfactants Ltd (GSL) on Wednesday posted 25 per cent jump in consolidate net profit at Rs 98.40 crore for the fourth quarter ended March 2022 on robust income.
The company had clocked a net profit of Rs 78.68 crore in the same quarter of previous fiscal year, according to a regulatory filing.
Total income increased to Rs 1,054.13 crore in January-March 2021-22 compared with Rs 786.10 crore in the year-ago period.
“This has been a robust quarter for us. Amidst the global uncertainties, Galaxy has reported its highest quarterly profit,” Managing Director U Shekhar said.
Though the overall performance last fiscal year was muted, the company ended the year on a strong note, he said.
As per the filing, the company’s net profit in 2021-22 was Rs 262.78 crore, lower than Rs 302.14 crore in the previous fiscal.
Total income, however, remained higher at Rs 3,698.22 crore as against Rs 2,94.92 crore in 2020-21.
“If FY22 was about managing the supply-side risks, we believe, FY23 will be about managing both; the ‘supply’ as well as the ‘demand-side’ risks. While the global scenario remains precarious, inflationary headwinds have now started impacting demand,” Shekhar said.
The company is seeing the first signs of demand cutbacks and down-trading in parts of India. Deteriorating supply conditions due to the Russia-Ukraine war and lockdowns in China will further exacerbate this, he said.
“Given this backdrop, we begin FY23 on a cautious note,” he said, adding that while the focus will remain on growth, the company believes that it is effective risk management that will differentiate and separate the best from the rest.
The company’s shares were trading up 4.44 per cent at Rs 2,702.95 apiece on BSE. PTI LUX LUX ANU ANU
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