Ingenia Group Reports 8% Revenue Decline

Ingenia Group, (ex-Mauritius Chemical and Fertilizer Industry Limited), has reported a decline in revenue for the nine months ending September 30, 2023.

The company’s revenue stood at Rs 957 million, representing an 8% decrease primarily attributed to lower sales volume and selling prices in the agro and industrial chemicals segments.

However, the aqua segment has performed well, with revenues more than doubling compared to the same period last year.

Consequently, the Group’s operating profit for the nine-month period declined to Rs 14.2 million, down from Rs 27.4 million in the corresponding period of 2022. Meanwhile, the loss incurred from the Group’s associate decreased to Rs 3.8 million from the previously reported Rs 5.6 million in June 2023.

For the nine months ending September 30, 2023, the Group recorded a loss after tax of Rs 9.7 million, in contrast to a profit of Rs 7.9 million for the same period in the previous year.

Source: Stock Exchange of Mauritius