Pune based National Chemical Laboratory (NCL) reported three-fold jump in net profit at Rs 18.83 crore for the quarter ended December 2016 (Q3FY17), on back of strong realization. Company‘s chief NGVSG Prasad said better realisations as well as better volumes have given the company good results.
Lower capacity utilisation on a quarter on quarter (QoQ) basis affected the performance of the company for Q1 of FY17. "In April and May, the prices were under pressure and from June onwards prices have started recovering and they are stable now", NGVSG Prasad, ED & CFO of NCL Industries said.
NCL Industries also expects to increase its gross turnover to Rs 1,200 crore in FY17 from Rs 994 crore in FY16, NGVSG Prasad, Executive Director and Chief Financial Officer, tells CNBC-TV18.