Fineotex Chemical Reports 47.48% YoY Increase in Q3 FY24 Profit

Fineotex Chemical, a leading chemical company, announced its Q3 FY24 results on 14 Feb, 2024, with a 26.75% year-over-year increase in revenue. The company’s profit also witnessed significant growth compared to the same quarter last year, reflecting its strong financial performance.

In terms of the previous quarter, Fineotex Chemical’s revenue declined by 4.69%, but the profit increased by 4.2%. This indicates the company’s ability to maintain profitability despite a slight decline in revenue. The Selling, general & administrative expenses rose by 7.97% compared to the previous quarter and increased by 18.29% year-over-year, showcasing the company’s investment in growth and expansion.

Furthermore, the company’s operating income showed positive growth, with a 5.75% increase compared to the previous quarter and a significant 41.79% increase year-over-year, indicating efficient cost management and improved operational performance. Their earnings per share (EPS) for Q3 FY24 stood at ₹2.95, reflecting a 47.5% year-over-year increase in earnings for its shareholders.

In addition to the positive financial results, Fineotex Chemical declared an interim dividend of ₹1.2. The record date for the dividend is 26 Feb, 2024, and the ex-dividend date is also 26 Feb, 2024. This dividend announcement reflects the company’s commitment to providing returns to its shareholders.

Currently, Fineotex Chemical has a market capitalization of ₹4511.89 Cr, and analysts have a positive outlook on the company, with a consensus recommendation of a Strong Buy, indicating confidence in its future prospects.

These results reflect Fineotex Chemical’s strong market position, positive investor sentiment, and commitment to delivering value to its shareholders. With its continuous focus on growth and expansion, the company is poised for sustained performance in the chemical industry. The company’s ability to maintain profitability and provide shareholder returns further adds to its overall positive outlook in the market.