Primo Chemicals Ltd.
Q3FY23 Quarterly Result Announced for Punjab Alkalies & Chemicals Ltd.
Punjab Alkalies & Chemicals announced Q3FY23 results:
- Consolidated Q3FY23:
- Revenue from operations of Rs 1,876 million, growth of 44% YoY from Rs 1,307 million in Q3FY22.
- EBITDA of Rs 510 million, compared to Rs 616 million in Q3FY22
- Net Profit of Rs 300 million, compared to Rs 429 million in Q3FY22.
- Revenue from operations of Rs 5,596 million, growth of 91% YoY from Rs 2,930 million in 9MFY22
- EBITDA showed more than 4x fold increase of Rs 1,826 million, compared to 425 million in 9MFY22
- Net Profit showed more than 8x fold increase of Rs 1,198 million, compared to Rs 146 million in 9MFY22
Commenting on the results, Mr. Naveen Chopra, Managing Director, said: “I am pleased to report a robust revenue growth of 44% YoY during the quarter, driven by higher demand for our products.
During the quarter, the revenue generated from operations amounted to Rs 1,876 million and EBITDA was recorded at Rs 510 million, with margin of 27%. The net profit for the period reached Rs 300 million, resulting in a margin of 16%. The company capitalized the Expansion Project for Rs 688 million, leading to increased depreciation and margin pressure.
During the quarter, we announced a new chapter in the evolution of our company and decided to rebrand and change our company name to “Primo Chemicals Limited”. Our new name reflects our commitment to growth and provide exceptional products and services to our customers. The name change aligns with our vision to be a leader in our industry, reinforces our dedication to deliver excellence in all that we do and represents our ongoing commitment to meet the evolving needs of our customers and the market."