Aether Industries profit jumps 38 pc in third quarter

SURAT: Manufacturer and supplier of specialty chemicals Aether Industries on Friday posted a jump of 38 per cent in its profit after tax to Rs 350 million during the third quarter of 2022-23 against Rs 254 million in the year-ago period.

The company's revenue went up 11 per cent to Rs 1,705 million against Rs 1,537 million in the corresponding quarter the previous year.

The Surat-based company also said earnings before interest, taxes, depreciation, and amortisation (Ebitda) was at Rs 507 million in the reviewed quarter, against Rs 416 million in the year-ago period, a jump of 21.9 per cent.

During the quarter, Ebitda margin was at 29.7 per cent against 27.1 per cent in the year-ago period. Aman Desai, Promoter & Whole-time Director, Aether Industries, said, "Aether has executed what it had promised by achieving good growth in Q3, which has been contributed by all our 3 business models. As we see demand improvement in the global chemical industry, we are significantly optimistic in our overall outlook."

"We have also recently made a few public announcements in this regard which reflect our continuous growth. We remain upbeat and positive on all our business models for future outlook."

Incorporated in 2013, Aether Industries is a speciality chemical manufacturer in India focused on producing advanced intermediates and specialty chemicals involving complex and differentiated chemistry and technology core competencies.