Refex Industries Q4 standalone net more than doubles to ₹51 cr.

Refex Industries Ltd. reported standalone net profit for the quarter ended March over the year earlier period more than doubled to ₹51 crore on increasing sales volume.

Revenue from operations grew over threefold to ₹630 crore. The financials included an exceptional income of ₹27 lakh on account of reversal of excess provision created towards diminution in the value of investments, it said in a regulatory filing.

In Q4, Refex forayed into the green mobility business space by incorporating and operationalising a subsidiary ‘Refex Green Mobility Ltd.’ It is now a wholly-owned subsidiary. Currently, the entity provides EV-based fleet transport service to organisations.