Omkar Speciality Q1 net profit at Rs52.1mn India Infoline News Service (08/08/2012)
Similarly, the consolidated sales for the quarter ended June 30, 2012 stood at Rs. 51.68 crore. Omkar Speciality Chemicals Limited (OSCL) reported a net profit of Rs. 52.1mn for the quarter ended June 30, 2012, as against a net profit of Rs. 40.2mn for the quarter ended June 30, 2011, OSCL said in a filing to the BSE.
This corresponds to 29.59% growth in bottom line. OSCL’s net sales on standalone basis stood at Rs. 503.1mn for the quarter ended June 30, 2012, as against Rs. 425.6mn for the corresponding quarter in the previous fiscal. Similarly, the consolidated sales for the quarter ended June 30, 2012 stood at Rs. 51.68 crore. OSCL’s consolidated net profit for the quarter ended June 30, 2012 stood at Rs.4.89 crore as against Rs.3.96 crore for the previous quarter.
Commenting on the results, Pravin S. Herlekar, Chairman & Managing Director, Omkar Speciality Chemicals Limited said, “It is indeed a matter of immense pride that we have posted our best ever quarterly results at a time when there are significant headwinds confronting our industry. Our company registered a strong growth for the quarter, with the specialty chemicals and API intermediate business growing in excess of 25%. Our exports have grown from Rs.6.33 crore in quarter ended June 30, 2011 to Rs. 19.91 crore in quarter ended June 30, 2012. Overall, OSCL registered a whopping growth of 214.53%.”
“With new products on the anvil and continued focus on cost productivity, efficiency and R&D, we are cautiously optimistic of growing ahead of the market in the quarters to follow,” said Herlekar..