Vishnu Chemicals Limited, a Hyderabad-based specialty chemical company, has reported a net profit of ₹36 crore in the fourth quarter ended March 31, 2023, as against ₹29 crore, showing a growth of 25 per cent.
During the period, it registered a total income of ₹339 crore (₹336 crore), reporting a flat growth of 1 per cent.
In the financial year 2022-23, the company’s net profit stood at ₹137 crore (₹81 crore), rising 68 per cent. It reported a total income of ₹1,406 crore (₹1,075 crore), registering a growth of 31 per cent.
“Over the last three years, we have achieved a PAT compound annual growth rate of over 80 per cent as we focussed on manufacturing and process improvement to achieve better yields,” Siddartha Cherukuri, Joint Managing Director of Vishnu Chemicals, said.
“The growth is driven by differentiated premium assets and efficient production processes,” Krishna Murthy Cherukuri, Chairman and Managing Director of the company, said.
The company manufactures chemicals such as barium and chromium for customers across 12 industries including pharmaceutical, textiles, electroplating, wood, paper, detergents, textiles and ceramics.
The company said the average international shipping costs have decreased by about 70 per cent in the last 12 months. “This resulted in a reduction of shipping costs in 2022-23 by 50 per cent,” the company said in a statement.