Vinyl Chemicals reports 44% drop in Q2 profit
Vinyl Chemicals India reported a net profit of 2.88 crore rupees in the July-September quarter, down from 5.13 crore rupees a year earlier. The Mumbai company’s revenue edged up 1.03 percent to 151.89 crore rupees as expenses climbed to 149.28 crore rupees.
Earnings per share dropped to 1.58 rupees from 2.80 rupees in the second quarter of the previous fiscal year. Six-month profit declined 27.06 percent to 7.33 crore rupees while revenue slipped 0.93 percent to 303.12 crore rupees.
The chemical trader imports vinyl acetate monomer for paint, adhesive and textile manufacturers. Directors approved the results at a board meeting on Monday. Shares traded at 282.65 rupees, up 0.19 percent from the previous close on the Bombay Stock Exchange.
