Total expenditure rose by 2.7% to Rs 571 crore in Q4 FY23 over Q4 FY22, due to higher finished goods purchases (up 52.7% YoY) and higher employee expenses (up 7.7% YoY)

Profit before tax in Q4 FY23 stood at Rs 81.62 crore, down by 21.6% from Rs 104.13 crore in Q4 FY22.

Current tax outgo for the period under review was Rs 24.58 crore (down 4.4% YoY). The company wrote back deferred taxes amounting to Rs 15.09 crore in Q4 FY23. Deferred tax expenditure in Q4 FY22 was Rs 3.77 crore.

The company reported 18.6% increase in net profit to Rs 502.21 crore on a 14.6% rise in revenue from operations to Rs 3,510.97 crore in FY23 as compared with FY22.

Sumitomo Chemical India manufactures, imports and markets products for crop protection, grain fumigation, rodent control, bio pesticides, environmental health, professional pest control and feed additives for use in India. SCIL has also marked its presence in Africa and several other geographies of the world.