Pondy Oxides reported a sequential rise in its net profit by over a percent. On a yearly basis, it reported a 22% drop in the net profit from INR 15 crores in Q2FY22 to INR 12 crores in Q2 FY23. This happened on account of 25% fall in the total revenue of the company to INR 300 crores. The company has further managed its expenses very well as cost of raw materials consumed have gone down 23% from the last quarter.
Surprisingly, the interest cost for the company has reduced by over 50% on year resulting in an improvised bottom line. Further, the EPS plummeted by 22% on account of falling revenue, during the same period.