Navin Fluorine Company Reported a 7.7 Times Jump – GSR

The Navin Fluorine company reported a 7.7 times jump in its net profit for the March quarter, also aided by a MAT credit reversal of Rs 88.2 crore.

Revenue saw a growth of 9.5% compared to the same quarter last year while Ebitda margins expanded to 24.9% from 20.4%, aided by lower raw material costs.

In its Covid-19 update, the company said that plants manufacturing products for life sciences and crop sciences are running at optimum capacity while those for industrials are running at sub-optimum levels.

The press statement also said that the company is working to develop domestic vendors for some critical raw material which is currently imported.

Shares gained as much as 6% to an all-time high of Rs 1,655.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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