Financials - Q3FY07 - 30 January

Kanoria Chemicals declares operating profit of Rs. 229 million in Q3

Consolidation after the expansions being the key mantra
New Delhi, January 30, 2007: KCI today announced its results for the quarter ended December 31, 2006.
  • Net sales increased by 56% to Rs. 1,625 million from Rs. 969 million.
  • With expansions almost complete the trend predicts positive dividend in current profits.
Kanoria Chemicals & Industries Limited (KCI), India's leading manufacturer of chemical intermediates, today announced its Q3 results. During the third quarter of current fiscal KCI's operating profit was up by 76% at Rs. 228.78 million as against Rs. 129.83 million last year. The Net Profit for the same period grew by 84% to Rs. 74.28 million from Rs. 40.43 million in the previous year.

The third quarter results indicate stabilisation of its expanded caustic soda capacity to 90,000 tonnes per annum. Consolidation of the company's operations is expected to yield desired results on completion of its next phase of expansion that would take the caustic soda production capacity to 130,000 tonnes per annum by 2008.

R. V Kanoria, Chairman & Managing Director of KCI, commenting on the results said "This quarter has been interesting one at Kanoria Chemicals. Our growth plans have enabled us to carve out a niche in this sector. Our position as a thought leader in this industry is based on the selection of manufacturing technology and efficient processes. Looking at the financial figures of the third quarter of this fiscal, I am confident about a bright future for us. During this quarter we have also consolidated our sustainable development initiatives by successfully utilizing fly-ash for constructive purposes. "