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Profit before tax rose 22.1% year on year to Rs 47.55 crore in Q1FY24.
Total expenditure spiked 22.74% YoY to Rs 440.36 crore in June quarter 2023. Cost of material consumed was Rs 258.11 crore (up 19.26% YoY) while employee benefits expenses stood at Rs 74.78 crore (up 29.83% YoY) during the period under review.
On segmental front, revenue from Engineering segment grew 41.87% to Rs 287.09 in Q1 FY24 as against Rs 202.36 crore in Q1 FY23. Revenue from Chemicals segment jumped 0.19% to Rs 146.08 crore in Q1 FY24 from Rs 145.81 crore in Q1 FY23. Revenue from Consumer Products segment rose 19.54% to Rs 60.33 crore in Q4 FY23 compared with Rs 50.47 crore in n the same period a year ago.
Ion Exchange (India) is engaged in water and environment management business. The company offers products, including ion exchange resins, water treatment plants and chemical additives. The firm's segments are engineering, chemicals and consumer products.
The scrip declined 4.21% to Rs 526.40 on the BSE.
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