Galaxy Surfactants slips 3% after Q4 PAT declines

Galaxy Surfactant shares dropped nearly 3 percent in afternoon trade on May 24, following the company's disappointing Q4 earnings results. At 2:20 pm, the company's shares were trading 2.83 percent lower at Rs 2520 on the NSE. The stock fell as much as 6.66 percent intraday, falling the most since August end 2020.

The manufacturer of performance surfactants and specialty care products, reported an 8 percent year-on-year (YoY) decline in net profit and a 14.8 percent sequential decline to Rs 90.5 crore in Q4FY23. In the corresponding quarter of previous fiscal year, the company had reported net profit of Rs 98.4 crore.

For the period ending March 31, 2023, the company's total income stood at Rs. 981.50 crore, reflecting a 6.89-percent YoY decline compared to Rs 1,054.13 crore for the same period in 2022. However, on an annual basis, Galaxy Surfactant showed positive growth, with total income reaching Rs 4,455.09 crore during FY23, a 20.47-percent increase compared to Rs 3,698.22 crore in FY22.

Additionally, the net profit saw a significant jump of 45 percent, with the profit after tax amounting to Rs 381 crore for FY23 compared to Rs 262.78 crore in the previous year.