Sumitomo Chemical India Q2 FY24 falls to Rs. 143.45 Cr
General

Sumitomo Chemical India Q2 FY24 falls to Rs. 143.45 Cr

Sumitomo Chemical India has executed definitive agreements for acquiring 85% equity shares in Barrix Agro Sciences Private Limited

  • By ICN Bureau | October 31, 2023

Sumitomo Chemical India has registered a 28.79 per cent drop in its net profit to Rs 143.45 crore in Q2 FY24 compared to Rs. 201.46 crore during the corresponding period a year ago.

During the quarter, the company registered a consolidated revenue of Rs 903.48 crore compared to Rs 1120.6 crore YoY, reflecting a drop of 19.38%  In Q2 FY24, Sumitomo Chemical India’s EBITDA down 32.41% at Rs 187.94 crore compared to Rs 278.03 crore during Q2 FY23.

During the quarter, Sumitomo Chemical India has executed definitive agreements for acquiring 85% equity shares and controlling stake (on fully diluted basis) in Barrix Agro Sciences Private Limited (BASPL) for sum(s) not exceeding Rs. 85 crore.

BASPL is a Bengaluru based company engaged in R&D, manufacturing and marketing biological crop protection and crop nutrition products and solutions with special focus on pheromones - including dispersion technologies - for monitoring and trapping agricultural pests. The proposed acquisition is subject to customary closing conditions and processes which are under progress.


Register Now to Attend Agrochem Summit 2023 on Friday, 15th December 2023, The Park Hotel, New Delhi

Upcoming E-conferences

Agrochem Summit 2023

December 15, 2023

PetroChem Summit 2024

February 23, 2024

Other Related stories

Startups

Chemical

Petrochemical

Energy

Digitization