NGL Fine-Chem Ltd. has reported financial results for the period ended September 30, 2024.

NGL Fine-Chem has posted net profit of Rs. 9.81 crore for the quarter ended September 30, 2024 (Q2 FY25) as against net profit of Rs. 10.48 crore for the quarter ended September 30, 2023. PAT was Rs. 9.22 crore in Q1 FY25. Revenue from Operations in Q2 FY25 stood at Rs. 93.48 crore as compared to Rs. 80.18 crore in Q2 FY24. Revenue from Operations was Rs. 90.75 crore in Q1 FY25. EBITDA in Q2 FY25 was Rs. 11.56 crore as compared to Rs. 13.97 crore.

According to Rahul Nachane, Managing Director, NGL Fine-Chem, said: “The operating environment continued to be challenging, primarily due to soft demand from the European continent and ongoing currency issues in Africa, Latin America, and Turkey. Additionally, geopolitical tensions in the Middle East and elevated logistics costs have further compounded these challenges, resulting in a market landscape characterised by high supply and subdued demand.

“On a positive note, we observed a strong recovery from China, which has contributed positively to our overall performance. Furthermore, we are pleased to announce that we have received an additional Certificate of Suitability (CEP) for a new product. We now have four Drug Master Files (DMF) approved for the European markets and are actively working on four additional DMF/CEP filings that we aim to submit by the end of the current financial year.

“We are making steady progress with our capital expenditure plans and strategies aimed at strengthening our business. Our CAPEX initiatives remain on schedule, with Phase 1 expected to be completed by the fourth quarter of this financial year and Phase 2 on track for completion by the third quarter of the next financial year.”