Mumbai, May 19 : Glassware firm Borosil Limited on Monday reported a 68.58 per cent decline in its net profit to just Rs 11.14 crore for the fourth quarter (Q4 FY25), compared to Rs 35.47 crore in the previous quarter (Q3 FY25).

The Mumbai-based company's profit attributable to the owners also showed a similar steep decline during this period.

The drop in net profit comes amid a significant decline in revenue. Borosil's revenue from operations in Q4 stood at Rs 270.18 crore, down nearly 20.09 per cent from Rs 338.1 crore in Q3.

Similarly, the company's total income dropped by around 23.12 per cent, falling to Rs 272.49 crore in Q4 from Rs 354.45 crore in the previous quarter.

On the expenses front, Borosil managed to reduce its total expenses by approximately 16.74 per cent in Q4, from Rs 306.93 crore in Q3 to Rs 255.55 crore.

The cost of materials consumed also saw a decline of about 26.61 per cent during this period.

However, purchases of stock-in-trade increased significantly by 39.42 per cent, rising to Rs 124.35 crore in Q4 from Rs 89.19 crore in the previous quarter.

A notable change was seen in the company's inventories of work-in-progress and finished goods, which swung from a profit of Rs 33.62 crore in Q3 to a loss of Rs 41.97 crore in Q4.

Meanwhile, employee benefits expenses rose by 23.63 per cent, increasing to Rs 33.75 crore from Rs 27.3 crore.

Borosil Limited, headquartered in Mumbai, is a glassware manufacturers with operations not only in India but also in the United States and the Netherlands.

The company offers a wide range of products, including laboratory glassware, instruments, disposable plastics, liquid handling systems, and explosion-proof lighting glassware.

These products cater to the education sector as well as various industries such as microbiology, biotechnology, photoprinting, process systems, and lighting.

/IANS