By: ICN Bureau
Last updated : July 21, 2021 7:46 am
The company has further reduced the net debt by Rs 45 crore in Q1'FY22.
Jubilant Ingrevia Ltd has reported total income of Rs.1150.54 crores during the period ended June 30, 2021 as compared to Rs.686.73 crores during the period ended March 31, 2021.
The company has posted net profit of Rs.168.26 crores for the period ended June 30, 2021 as against net profit of Rs.54.36 crores for the period ended March 31, 2021.
Commenting on the company's performance, Shyam S Bhartia, Chairman and Hari S Bhartia, CoChairman, Jubilant Ingrevia Limited said: "With immense pleasure I would like to announce that we have started the FY22 with a very positive note by delivering our record quarterly financial performance so far. Along with managing COVID-19 related challenges, we reported highest ever quarterly Revenue and EBITDA during Q1'FY22.
In our Specialty Chemicals segment we witnessed strong growth across product segments. In Nutrition & Health Solution segment, the demand grew across geographies. In Life Science Chemical Segment, we witnessed favorable market conditions leading to strong demand and improved product contribution.
The Input cost continued to rise throughout the quarter and businesses are trying to pass on the cost increases. During the quarter we also witnessed an all-time high price of Acetic Acid which was passed-on successfully. I am pleased to inform that company's growth projects are progressing as per plan.
With our continuous endeavor to reduce leverage, we have further reduced the net debt by Rs 45 crore in Q1'FY22. During Second wave of Covid, we created a focused task force across our business units and locations to support our employees and their families. The efforts of the task force resulted in significant mitigation of Covid hardship for our people. We also take this opportunity to thank all our employees who have worked tirelessly across all our plants and offices to ensure continuity in company's operations, while continuing to serve our global customers."