Rossari Biotech Q1FY’24 EBITDA Margin Rises To 14.1%

EBITDA margin at textile speciality chemicals manufacturer Rossari Biotech rose 80bps to 14.1 percent in the first quarter ending June 30, 2023 of fiscal 2024 versus 13.3 percent in the same quarter of fiscal 2023.

EBITDA in Q1FY’24 was also higher as against expectations of 13.5 percent and also higher than 13.4 percent in the previous quarter ending March 31, 2023.

EBIDTA remained constant at Rs 57.7 crore in the quarter under review, when compared with the first quarter of previous fiscal, but higher than 54.6 crore against its earlier quarter.

Revenue from operations totaled Rs 410.6 crore in the reporting quarter, down 5.5 percent from the similar quarter in earlier fiscal, when it stood at Rs 434.7 crore.

In the first quarter of current fiscal, profit after tax (PAT) also grew marginally to Rs 29.2 crore as against Rs 28.7 crore in the first quarter of fiscal 2023.