Mumbai, May 17
Galaxy Surfactants Limited has reported a 2.1 per cent decline in its net profit by about 2.1 per cent to Rs 75.87 crore compared to Rs 77.50 crore in the same quarter last fiscal.
Total expenses surged by 22.54 per cent to Rs 1,052.56 crore, compared to Rs 858.95 crore in the previous financial year, according to its stock exchange filing.
The company’s cost of materials consumed jumped significantly by around 28 per cent to Rs 809.21 crore from Rs 632.71 crore.
Employee benefits expenses and finance costs also increased by 5.38 per cent and 15.4 per cent respectively.
Other expenses rose by a modest 3.34 per cent, while depreciation and amortisation costs increased by 8.09 per cent.
Revenue from operations rose by 23.24 per cent to Rs 1,144.93 crore in Q4, up from Rs 929 crore a year earlier.
Total income also increased by nearly 21 per cent to Rs 1,152.68 crore from Rs 952.91 crore.
K. Natarajan, Managing Director of Galaxy Surfactants, said the quarter was challenging, especially for the Indian market, which continued to face headwinds.