Vipul Organics Posts Robust Results For Q2 FY2023-24
Vipul Organics Ltd, the leading specialty chemicals company in the pigments and dyes segment, has announced its Quarter 2 results for FY2023-24.
Some of the key highlights on a standalone basis include: In Q2 of 2023-24, the company recorded total revenues of Rs 3,660.19 lakh, marking a marginal 1% increase from Q1 of the same fiscal year, Q2 of 2023-24 witnessed a PBT of Rs. 107.09 lakh, reflecting an impressive surge of 52.81% compared to Q1 and the PAT for Q2 of 2023-24 stood at Rs. 99.1 lakh, demonstrating a remarkable growth of 98.16% from the preceding quarter.
Commenting on the results, Vipul Shah, Managing Director of Vipul Organics Ltd said, “We are witnessing an uptick in demand in our conventional sectors, which we are confident will translate into revenues in the next few quarters. Our diversification into newer categories has received a positive response from the industry, and we foresee these initiatives making a significant contribution to our topline in the coming years. We have been taking steps to bring about cost rationalization and this has positively impacted our bottom line.”