SRF Posts 22% Rise in Q1 Profit

New Delhi: SRF, a manufacturer of chemical-based industrial intermediates, on Thursday reported a 22 per cent increase in consolidated net profit at Rs 113.21 crore for the quarter ended June 30, 2015, on account of higher sales.

The company had clocked a net profit of Rs 92.50 crore for the corresponding period a year ago, it said in a filing to the BSE.

Net sales during the quarter ended June 2015 rose to Rs 1,207.21 crore, as compared to Rs 1,147.19 crore in the year-ago period, it added.

Meanwhile, the company's board in its meeting on Thursday also approved the setting up of a green field packaging film line in the Domestic Tariff Area, Indore at an estimated cost of Rs 356 crore.

It also approved pharma grade manufacturing and filling facility at Dahej, Gujarat at an estimated cost of Rs 26 crore and converting the 'HFC 134a' plant at Bhiwadi into a swing plant to produce both HFC 134a and HFC 32 at an estimated cost of Rs 12 crore.

Shares in SRF, on Thursday, ended over 1 per cent lower at Rs 1,444.95 apiece on the BSE.