SRF Limited, a chemical-based multi-business entity engaged in the manufacturing of industrial and specialty intermediates, on Tuesday reported 56 per cent increase in net profit for the third quarter ended December 31, 2021 at ₹506 crore (against ₹324 crore in the corresponding quarter last year).

The consolidated revenue for the quarter under review grew 56 per cent to ₹3,346 crore (₹2,146 crore). 

For the nine months period ended December 31, 2021, the company’s net profit grew 57 per cent to ₹1,283 crore (₹817 crore). Revenue for the nine months period April-December 2021 increased 53 per cent to ₹8,884 crore (₹5,792 crore).

The Board of Directors have approved a second interim dividend at the rate of ₹4.75 per share.

Commenting on the financial performance, Ashish Bharat Ram , Managing Director, SRF, said in a statement, “It’s been an outstanding quarter for the company. Except for the technical textiles segment, which was impacted by soft market conditions, every other segment performed exceedingly well. We remain cautiously optimistic of our performance going forward.”

Chemicals business

The chemicals business reported an increase of 58 per cent in its segment revenue from ₹906 crore to ₹1,428 crore during Q3FY22 over corresponding period last year. The operating profit of the chemicals business increased 121 per cent from ₹190 crore to ₹419 crore in Q3FY22 over corresponding period last year. 

Meanwhile, the Board of SRF has appointed Vellayan Subbiah (independent director) as the Chairman of the Board of Directors from April 1, 2022. This follows Arun Bharat Ram, incumbent Chairman, deciding to step down as Executive Chairman from the closing of business hours on March 31, 2022. Arun Bharat Ram has been appointed as Chairman Emeritus at SRF from April 1, 2022 to March 31, 2027.

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