India-based speciality chemical maker Rossari Biotech Ltd reported a rise in profit amid lower sales during first quarter of the current fiscal year. 

 

Rossari recorded 14.3% fall in revenue YoY to ₹109.4 crore but its net profit grew 7.4% to ₹15.2 crore as the cost of goods consumed in the making of its products fell by nearly a third. The input cost was the biggest saving in the first quarter.

 

The company has reported EPS of Rs.3.14 for the period ended June 30, 2020 as compared to Rs.2.93 for the period ended June 30, 2019.

 

Lockdowns by the central and state government authorities to contain the spread of COVID19 outbreak was one of the key reasons due to which the company's operations and financial results for the quarter got impacted. 

 

The company recently went public and made a stellar debut on the stock exchanges, with its shares listing at a 58% premium to its initial public offering price and then climbing higher.

 

Rossari Biotech’s business is organised in three main product categories (a) home, personal care and performance chemicals (HPPC); (b) textile specialty chemicals; (c) animal health and nutrition products (AHNP). The products are used in the manufacture of soaps and detergents, paints, inks, tiles, papers, natural and man-made textiles. Apart from India, it has operations in 17 countries, including Vietnam, Bangladesh and Mauritius.