Rossari Biotech Q2 Results | Net profit rises 7% to ₹35 crore, revenue up 2% to ₹498 croe
In the corresponding quarter of the previous fiscal, Rossari Biotech posted a net profit of ₹32.9 crore, the company said in a regulatory filing. The company’s revenue from operations increased 1.8% to ₹498.3 crore as against ₹489.7 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA dipped 5.4% to ₹66 crore in the second quarter of this fiscal over ₹69.8 crore in the corresponding period in the previous fiscal.
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EBITDA margin stood at 13.2% in the reporting quarter as compared to 14.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Further, Rossari Global DMCC, a wholly owned subsidiary of Rossari Biotech has agreed to acquire 100% of the total equity share capital of Unistar Thai Co Ltd (Unistar), from all the existing shareholders of Unistar, subject to the completion of customary terms and conditions precedent.
Rossari Biotech has announced the appointment of Gurudas Aras as an Additional Director, designated as a Non-Executive Independent Director, effective October 19, 2024. His appointment, based on the recommendation of the Nomination and Remuneration Committee, will be for a term of three consecutive years, running from October 19, 2024, to October 18, 2027.
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In addition, Rossari Biotech has also announced the reappointment of Aseem Dhru as a Non-Executive Independent Director for a second term of three consecutive years. His new term will begin on November 12, 2024, and end on November 11, 2027. The re-appointment, recommended by the Nomination and Remuneration Committee, is also subject to the approval of the company’s members.
The results came after the close of the market hours. On October 18, shares of Rossari Biotech Ltd ended at ₹873.45, down by ₹4.20, or 0.48% on the BSE.
