Lords Chloro Alkali posts Q3FY24 loss at Rs. 3.20 Cr
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Lords Chloro Alkali posts Q3FY24 loss at Rs. 3.20 Cr

Despite the tough market conditions, our prices have shown resilience, maintaining a flat trajectory compared to the earlier part of the financial year.

  • By ICN Bureau | February 27, 2024

Lords Chloro Alkali Limited has reported Standalone financial results for the period ended December 31, 2023.

Lords Chloro Alkali has reported total income of Rs. 58.52 crores during the period ended December 31, 2023 as compared to Rs. 48.83 crores during the period ended September 30, 2023. The company reported total income Rs.74.63 crores during the period ended December 31, 2022.

Lords Chloro Alkali has posted net loss of Rs. 3.20 crores for the period ended December 31, 2023 as against net loss of Rs. 1.22 crores for the period ended September 30, 2023. The company posted net profit of Rs.12.81 crores for the period ended December 31, 2022.

For the 9 months period ended FY2024, Lords Chloro Alkali has reported total income of Rs.161.03 crores as compared to Rs.235.96 crores during the 9 months period ended December 31, 2022.

The company has posted net loss of Rs. 4.74 crores for the 9 months period ended December 31, 2023 as against net profit of Rs.49.49 crores for the 9 months period ended December 31, 2022.

Commenting on the result, Ajay Virmani, Managing Director, Lords Chloro Alkali Ltd. said, “in navigating the challenges of persistently low caustic soda prices impacting our profitability, I'm pleased to share some positive developments. Despite the tough market conditions, our prices have shown resilience, maintaining a flat trajectory compared to the earlier part of the financial year. This stability is crucial, and |commend our team for ensuring that we didn't compromise on product levels and adhered to our planned capacity utilization, keeping us on a steady course.

It's reassuring to note that demand has remained stable, and we successfully weathered this period without resorting to production cuts. Inthe past month, we've witnessed a slight uptick in prices, and I'm hopeful that this positive momentum continues, contributing to an upswing in our overall profitability.

On the capital expenditure front, we're making significant strides. Our plans to expand capacity are well on track. The strategic step addresses us to position ourself to be ready to capture future growth.

Looking ahead, I'm optimistic about our company's trajectory. Our strategic decisions, coupled with a stable demand environment, set the stage for capturing increased demand in the quarters to come. The combination of prudent financial management, stability in operations, and strategic capacity expansion reflects our commitment to long-term success. I'm confident that, we are well-prepared to navigate challenges and capitalize on opportunities for sustained growth"

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