Asahi Songwon Net Profit Up By 33.96% For Q1FY15
Nutan Gupta / 12 Aug 2014
Asahi Songwon, leading player in the business of manufacturing pigments. They are basically colourful compounds, adding colour to plastics, textiles, rubbers etc. The company announced its financial results for the quarter ended June 2014. We give you the highlight of the company's performance.
On the standalone basis, the company reported a jump in the net profit by 33.96% to Rs 4.22 crore against Rs 3.15 crore in the corresponding quarter of previous year. The increase in the net profit was primarily backed by substantial increase in the net sales by 19.64% to Rs 81 crore against Rs 67.70 crore for the June quarter 2013. The company registered a decline of 61% against 64% in the consumption of raw material as proportion to sales.
However the company registered a growth in the total expenses by 18.22%. This was aided by increase in the consumption of raw materials by 15.05% to Rs 50.06 crore in the current quarter against Rs 43.20 crore in June 2013. The other expenses of the company rose by 26.51% to Rs 8.54 crore against Rs 6.75 crore in the corresponding quarter of previous year. However the finance cost of the company remained flat.
The EBITDA of the company came in at Rs 8.29 crore in June 2014 against Rs 6.27 crore in June 2013. Despite the increase in the total expense, the increase in the net profit was primarily backed by strong numbers in net sales and decline in the expenses as proportion to sales. After reporting the strong set of numbers, the share price of the company increased by 3.14%.
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