Astec LifeSciences Limited (Astec) has announced its financial results for the first quarter ended June 30, 2024.   The company reported consolidated total income of Rs. 70.3 crore in Q1FY25 as compared to Rs. 144.6 crore in Q1FY24.

Astec LifeSciences reported consolidated EBITDA loss of Rs. 45.3 crore in Q1FY25 as compared to profit of Rs. 4.8 crore in the same period last year.

Commenting on the performance, N. B. Godrej, Chairman, Astec LifeSciences Limited, said: Astec continued to face pricing and demand headwinds in the enterprise products on account of de-stocking of the inventory across key markets. Challenging external environments necessitated write down of inventory which also significantly impacted the margins of the enterprise portfolio. Also, global logistics issues resulted in delay in receipt of essential raw materials for our Contract Manufacturing (CDMO) product which resulted in deferral of volumes. This unfortunate situation further compressed overall profit margins.

Astec LifeSciences Limited was incorporated in 1994 and is engaged in the manufacturing of agrochemical active ingredients (technical), bulk formulations and intermediate products. Astec has a healthy sales mix of both exports and domestic sales.