KCL declares Rs 15.96 cr as operating profit in Q1

Mumbai, July 28 (UNI) Chemical major Kanoria Chemicals and Industries Limited (KCI) today announced operating profit of Rs 15.96 crore Q1 results for the current fiscal year as against Rs 18.25 crore for the same period last year.

However, the net sales of the company has recorded a growth by 25.2 per cent to Rs 93.14 crore from Rs 74.42 crore.

The operating profit of KCI in the current fiscal year is down by 12.8 per cent at Rs 15.96 crore, as compared to Rs 18.25 crore in the last fiscal.

The modest Q1 result is a result of the stabilisation of expanded caustic soda capacity, including re-testing of equipment related to expansion. However, the chlor alkali realisations also witnessed significant decline as compared to the same quarter last year.

KCI Chairman and Managing Director R V Kanoria said, ''This is an exciting phase for the company. I am confident that the strength developed over the past four decades, in terms of human relations, process expertise, innovative use of best in class technologies, efficient operations and good understanding of the market would help the company in sustaining its growth trajectory.

''We have completed the first phase of expansion and are pleased that the intial stabilisation process is complete. We are now looking towards the execution of the second phase,'' he added.

UNI GVS SSS NV1920