Bhansali Engineering net profit jumps 81 pc in fourth quarter

New Delhi [India], May 22 : Petrochemical company Bhansali Engineering has posted an 80.54 per cent in its net profit to Rs 14.25 crore for the quarter ended March 31, 2023, against Rs 73.27 crore in the year-ago period.

According to a statement filed with stock exchanges, the company's total income went down to Rs 335.72 crore during the reviewed period ended March 31, 2023, as compared to Rs.450.14 crore during the period ended March 31, 2022.

The company has reported earnings per share (EPS) of Rs 0.86 for the quarter ended March 31, 2023, as compared to Rs 4.42 for the period ended March 31, 2022, according to the statement released on Sunday evening.

The company has posted a 60.93 per cent net profit to Rs 136.75 crore for the financial year ended March 31, 2023, against a net profit of Rs 350.03 crore for the financial year ended March 31, 2022.

The company has reported EPS of Rs 8.24 for the financial year ended March 31, 2023, as compared to Rs 21.10 for the financial year ended March 31, 2022.

Shares of Bhansali Engineering Polymers Limited were up 2.75 per cent, trading at Rs 140 apiece as compared to the previous close of Rs 131.00.

Bhansali Engineering Polymers (BEPL) is one of the leading players in the petrochemical sector in India. BEPL is a vertically integrated petrochemical company that is into manufacturing of Acrylonitrile Butadiene Styrene (ABS) a raw material used extensively across industries like automobiles, home appliances, telecommunications, luggage and other sectors.

The company manufactures and produces a variety of specialty grades and 1200 different colour shades meeting customers' requirements in different applications.

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