Meghmani Organics reports higher second quarter net profit

Agrochemicals maker Meghmani Organics has registered a 77.2 per cent jump in second quarter net profit to 83.9 million rupees (S$1.7 million).

Revenue for the three months to Sept 30 rose by 27.8 per cent to 3.21 billion rupees.

This was due to increase in revenue of pigment, agrochemical and trading sales.

Overall, gross profit increased by 80.95 million rupees, or 17 per cent, to 557.4 million rupees.

However, gross profit margin decreased from 19 per cent to 17.4 per cent. Margins for pigments and caustic chlorine were reduced.

Earnings per share for the first six months dipped to 0.19 rupee from 0.68 rupee previously while net asset value per share climbed to 23.06 rupees compared to 23 rupees as at March 31.

No interim dividend was proposed.