GHCL Q1FY22 consolidated net up at Rs. 102.61 Cr
Chemical

GHCL Q1FY22 consolidated net up at Rs. 102.61 Cr

The company reported total income Rs.456.51 crores during the period ended June 30, 2020.

  • By ICN Bureau | July 30, 2021

GHCL Ltd. has reported total income of Rs.858.77 crores during the period ended June 30, 2021 as compared to Rs.833.79 crores during the period ended March 31, 2021.

The company reported total income Rs.456.51 crores during the period ended June 30, 2020.

The company has posted net profit of Rs.102.61 crores for the period ended June 30, 2021 as against net profit of Rs.111.14 crores for the period ended March 31, 2021. It posted net profit of Rs.12.95 crores for the period ended June 30, 2020.

Commenting on the financial performance, R S Jalan, Managing Director, GHCL said, "We have commenced the new fiscal year on an encouraging note with substantial gains across all our business segments. This was possible despite severe disruptions witnessed in Q1 due to localized restrictions and lockdowns on account of the second wave of the pandemic. I am glad that our teams have positively responded to this crisis and ensured business continuity. I would like to extend my gratitude to our entire workforce for their relentless contribution and would like to assure them that the Company will do what is required to protect and support them.

Our Inorganic chemicals business demonstrated healthy volume growth with positive realizations supported by consistent demand in the key end user categories. We believe this positive trend will continue going forward as demand has been stabilizing and we are also looking to expand our portfolio to add some products to leverage our scale and expertise.

I am pleased to share that we have received consent from secured creditors for the demerger of textiles, and we will now be approaching the honorable NCLT for their approval. In the textile business, we witnessed initial temporary disruption due to the second wave of COVID, however this has now been normalized and we are operating at peak utilisation levels in both spinning and home textiles based on strong demand scenario and have achieved record profits during the quarter.

Overall, our endeavor is to further amplify our leadership position across key product categories to bolster the performance momentum and create enhanced value for our stakeholders."

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