Jubilant Ingrevia's Profit Soars 54% in Q3 2024

Jubilant Ingrevia reported a 54% increase in net profit for Q3 2024, reaching Rs 59.38 crore. Sales increased by 8.91% to Rs 1,046.06 crore. The growth is attributed to improvements in Specialty Chemicals and Nutrition businesses, alongside cost-saving measures. An interim dividend of 250% was declared.

Jubilant Ingrevia, a leading maker in specialty chemicals and life science ingredients, posted a 54% surge in its net profit for the third quarter ending December 2024, amounting to Rs 59.38 crore. This marks a significant jump from last year's Q3 profit of Rs 38.56 crore, as per regulatory filings from the Jubilant Bhartia Group.

The company's sales experienced a growth of 8.91%, totaling Rs 1,046.06 crore, compared to Rs 960.45 crore during the same period last year. Total expenses rose by 5.48% reaching Rs 970.63 crore. The total income, inclusive of other revenue streams, was reported at Rs 1,056.20 crore, noting an 8.3% year-on-year increase.

According to Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia, the substantial growth is largely attributed to enhanced performance in their Specialty Chemicals and Nutrition divisions, coupled with the impact of recent cost-saving measures. The company also declared an interim dividend of 250%, translating to Rs 2.5 per equity share with a face value of Re 1 for FY25. Looking ahead, the Bhartias expressed optimism for continuous business improvements in the coming quarters.

(With inputs from agencies.)