GHCL Limited, an India-based leading chemical & textile company, has reported net revenue decline to ₹809 crore in its third quarter (Q3) FY21 that ended on December 31, 2020, compared to the revenue of ₹834 crore in the same period previous fiscal. However, company’s net profit for the period grew to ₹111 crore (Q3 FY20: ₹101 crore).
“With several vaccines getting approval worldwide and here in India too, business is being restored due to an upbeat sentiment and the economy is making appreciable strides towards normalcy. We have demonstrated encouraging performance during the quarter under review with 26 per cent profitability growth Y-o-Y (Year-on-Year) basis and 41 per cent profitability growth Q-o-Q (Quarter-on-Quarter) basis,” R S Jalan, managing director at GHCL, said in a press release.
GHCL’s inorganics chemicals division’s revenue for Q3 FY21 slipped to ₹528 crore (₹549 crore). While, home textiles business revenue remained stagnant at ₹280 crore (₹285 crores).
“Strong performance is a result of concerted efforts undertaken by the company and a healthy demand scenario for our products in both the business segments,” Jalan said. “We are focused, agile and committed towards ensuring sustainable and inclusive growth of all our stakeholders.”