Q3FY’24 Revenues Jump 34.88% At Dyes Producer Vipul Organics
Manufacturer of dyes and pigments, Vipul Organics reported a 34.88 percent year on year jump in revenues which stood at Rs 3,761 lakhs in the third quarter ended December 31, 2023.
However, net profit in the three months to December 31, 2023 soared 650.19 percent from a year ago quarter on a consolidated basis and 517.54 percent on a standalone basis.
In the nine months to December 31, 2023 revenues at the BSE listed company amounted to Rs 11,044.99 lakhs, up 7.59 percent over the same period of earlier fiscal.
Net profit from April to December 2023 rose 43.36 percent on a consolidated basis and 41.20 percent on a standalone basis compared to nine months to December 31, 2023
“The green shoots in the economy are reflected in our results. We are back on our growth trajectory, post the economic shocks of Covid,” Vipul Shah, MD at Vipul Organics Limited said.
“In this quarter, we also lay the foundation stone for our new facility at Sayakha which will be revenue accretive from fiscal 2025-26,” he added.
“Our newer offerings in sectors like paper and textiles are seeing huge traction and we are hoping for orders in the coming quarters,” Shah stated.
Vipul Organics has three manufacturing facilities spread across Maharashtra and a global footprint in over 50 countries.
