SRF Limited (NSE: SRF) reported a higher net profit for the first quarter of 2023 when the chemicals conglomerate’s revenues climbed 44% year-over-year. The company also announced an interim dividend of ₹3.60 per share.
Total operating revenues increased sharply to ₹3,894.7 crores in the first quarter, with all four operating segments registering double-digit growth.
Driven by the positive top-line performance, first-quarter comprehensive income increased to ₹433.77 crores or ₹20.51 per share from ₹368.61 crores or ₹13.34 per share in the corresponding period of last year.
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“It has been a stellar quarter for the Company. The outlook for our Chemicals Business remains strong and we believe the investment intensity will increase in this segment. While our Packaging Films Business performed very well, we see strong headwinds for the Business with weak global demand and inventory losses in the short term,” said Ashish Bharat Ram, SRF’s chairman, and managing director.