Himadri Speciality Chemical Q3 net profit grows 67% to Rs 108.78 cr

New Delhi: Himadri Speciality Chemical Ltd (HSCL) on Tuesday posted a 67 per cent rise in consolidated net profit at Rs 108.78 crore during the quarter ended December 31.

It had clocked Rs 65.21 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing.

The company's total income in the quarter rose to Rs 1,062.70 crore, over Rs 1,045.06 crore a year ago.

HSCL trimmed its expenses to Rs 912.55 crore from Rs 965.59 crore.

Kolkata-based Himadri Speciality Chemical Ltd is into manufacturing and supply of green energy, anode material for li-ion batteries, special types of oils and other materials for industrial usage.

"Our core business is delivering strong cash flows quarter after quarter backed by strong customer relationships, quality-led production and continuous innovation," said Anurag Choudhary, CMD and CEO of Himadri Speciality Chemical Ltd.

The improvement in profit is the result of in-house technology which leads to cost optimization while delivering competitive cost, he said.

"Our first commercial plant of LFP cathode active material will be operational in the next 27-36 months. We... have the vision to scale up the capacity to produce 200,000 MTPA (metric tonne per annum) in phases in the next 5-6 years,"