Refex Industries reports standalone Q4 PAT of Rs 50.67 crore

Refex Industries Ltd, engaged in selling refrigerant gases and handling coal ash and fly ash, has reported a standalone profit after tax of Rs 50.67 crore for the quarter ending March 31, 2023, the company said on Friday.

During the corresponding quarter of the previous year, the figure stood at Rs 24.01 crore.

For the year ending March 31, 2023 the standalone profit after tax grew to Rs 116.06 crore, compared to Rs 45.38 crore a year ago.

Refex's standalone total income during the quarter under review went up to Rs 631.97 crore from Rs 178.11 crore in the same period of the previous year.

For the year ending March 31, 2023 that figure rose to Rs 1,637.43 crore from Rs 448.98 crore in the last financial year.

In a press release, the company said, "This quarter has shown an unprecedented result which is a testimony to our rigorous efforts and commitment."

"Even at the quarterly level, the business segments have been able to keep the momentum that had been achieved through the quarters and we firmly believe that we will be able to continue the momentum garnered in this year," it said.

During the quarter under review, Refex Industries Ltd forayed into the green mobility business space by incorporating and operationalising a subsidiary, Refex Green Mobility Ltd, which has become a wholly-owned subsidiary.

Refex Green Mobility currently provides EV-based fleet transport service to organisations.

"This year's performance has been remarkable and I can proudly say that it is a strong testimony to the efforts put in by the team, and the trust that the stakeholders have on Refex," company MD Anil Jain said, commenting on its financial performance.

"It will not only strengthen us to grow further but will also help us continue to stick to our commitments towards ESG (Environment, Society and Governance)," he added.

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