SRF reports 6 pc dip in Q3 PAT to Rs 324 crore

Industrial and specialty intermediates manufacturer SRF Ltd has reported 6 per cent fall in its profit after tax to Rs 324 crore in Q3 FY21 as compared to Rs 345 crore in the corresponding period of previous fiscal.

However, net of one-time tax adjustments, the profit increased by 46 per cent from Rs 221 crore to Rs 324 crore. The company's earnings before interest and tax increased by 42 per cent from Rs 337 crore to Rs 479 crore in Q3 FY21.

The consolidated revenue grew by 16 per cent from Rs 1,850 crore to Rs 2,146 crore in the same period.

"We have seen all business segments return to normal operations. I remain cautiously optimistic going forward," said Managing Director Ashish Bharat Ram.

The board of directors approved a second interim dividend at the rate of 190 per cent amounting to Rs 19 per share. Earlier on July 30, 2020, the board had approved the first interim dividend at the rate of Rs 5 per share.

SRF said its chemicals business reported an increase of 12 per cent in segment revenue from Rs 812 crore to Rs 906 crore during Q3 FY21.

The packaging films business reported an increase of 26 per cent from Rs 638 crore to 802 crore while technical textiles business reported an increase of 9 per cent in revenue from Rs 336 crore to Rs 367 crore during Q3 FY21.

SRF's diversified business portfolio covers fluorochemicals, specialty chemicals, packaging films, technical textiles, coated and laminated fabrics.

( With inputs from ANI )