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Finolex Industries reports 66% fall in Q4 consolidated net profit

23 May 2023 Evaluate

Finolex Industries has reported results for fourth quarter (Q4) and year ended March 31, 2023.

The company has reported 67.93% fall in its net profit at Rs 158.35 crore for the quarter under review as compared to Rs 493.80 crore for the same quarter in the previous year. Total income of the company decreased by 27.73% at Rs 1,170.26 crore for Q4FY23 as compared to Rs 1,619.33 crore for the corresponding quarter previous year.

On consolidated basis, the company has reported 66.37% fall in its net profit at Rs 166.50 crore for fourth quarter ended March 31, 2023 as compared to Rs 495.12 crore for the same quarter in the previous year. Total income of the company decreased by 27.73% at Rs 1,170.26 crore for Q4FY23 as compared to Rs 1,619.33 crore for the corresponding quarter previous year.

For the year ended March 31, 2023, the company has reported 77.54% fall in its net profit at Rs 236.59 crore as compared to Rs 1,053.47 crore for the previous year. Total income of the company decreased by 4.48% at Rs 4,518.43 crore for year under review as compared to Rs 4,730.48 crore for year ended March 31, 2022.

For the year ended March 31, 2023, on the consolidated basis, the company has reported 76.15% fall in its net profit at Rs 250.70 crore as compared to Rs 1,051.35 crore for the previous year. Total income of the company decreased by 4.47% at Rs 4,517.97 crore for year under review as compared to Rs 4,729.55 crore for year ended March 31, 2022.

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