(MENAFN- IANS) Mumbai, July 23 (IANS) PCBL Chemical's net profit fell 20 per cent to 94.10 crore in the first quarter of the current financial year (Q1 FY26) from Rs 117.9 crore in the corresponding quarter a year ago, the company said in an exchange filing on Wednesday.

The company also reported a loss of around 6 crore on quarter-on-quarter (QoQ) from over Rs 100.19 crore in the preceding quarter (Q4 FY25).

However, the revenue from operation took a marginal jump of Rs 26.5 crore to 2,114.05 crore from Rs 2,087 crore QoQ. At the same time, it plummeted Rs 29.51 crore from Rs 2,143.56 crore in the same quarter last fiscal year (Q1 FY25).

The company's total expenses for the quarter under review were Rs 1,999.70 crore, up Rs 18 crore from Rs 1,981.13 crore of January-March quarter and around Rs 9 crore from Rs 1,990.87 crore of Q1 of last fiscal.

PCBL Chemical cost of material remained flat in the range of Rs 1,450 crore QoQ. However, it reported a significant rise in financial cost, went-up to Rs 112.35 crore QoQ from Rs 103.16 crore in the preceding quarter. While other expenses were also up over 27 crore to Rs 231 crore sequentially from Rs 203.90 crore in Q4 FY25.

Earlier this month, Nanovace Technologies Limited, a subsidiary of PCBL Chemical Limited, was granted a process patent by the United States Patent Office for its proprietary method of developing nanomaterials designed for next-generation energy storage technologies.

This breakthrough patent represents a significant milestone in our R&D efforts and strengthens our intellectual property portfolio in the energy storage domain, the company said in an exchange filing.

Meanwhile, the shares of the company were trading in negative territory on Wednesday following the announcement of Q1 earnings. The stock closed at Rs 406, down 2.27 per cent. In the last 5 trading sessions, the scrip fell over 5 per cent.

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