GMM Pfaudler tumbles after reporting Q1 loss of Rs 18 cr

GMM Pfaudler slumped 5.61% to Rs 4400 after the company reported a consolidated net loss of Rs 18.4 crore in Q1 FY22 as against a net profit of Rs 19.19 crore in Q1 FY21. Net sales soared 257% to Rs 551.68 crore in Q1 FY22 over Q1 FY21. The firm reported a pre tax loss of Rs 15.65 crore in Q1 FY22 as against a pre-tax profit of Rs 23.07 crore in Q1 FY21.

Commenting on the company’s performance for Q1 FY22, Tarak Patel, MD of the company said, “We are pleased to report a strong start to the financial year, our business continues to show considerable resilience across all geographies. Our integration initiatives are progressing well and we have now started seeing the impact of post-merger synergies in our profitability. Our order intake across all our product lines continues to remain strong while the overall business environment looks encouraging.”

Meanwhile, the board approved payment of interim dividend of Re 1 per share.

GMM Pfaudler (GMMP) is present on the market with several branded product lines covering a broad portfolio that includes fluoropolymers, filtration & drying, engineered column systems, lab & process glass, sealing technology and glass-lined & alloy systems

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