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Shares of Fine Organic Industries Ltd. cooled off from their opening highs after gaining as much as 12 percent on Friday post its September quarter earnings.

While the company registered strong growth across parameters on a year-on-year basis, the company's margin saw a decline quarter-on-quarter.

Consolidated revenue more than doubled, increasing 110 percent from the September quarter last year to Rs 919 crore.

Operating profit or EBITDA also nearly doubled year-on-year to Rs 254 crore, registering a growth of 91 percent. EBITDA margin expanded 10 percentage points to 27.6 percent from 17.6 percent last year.

However, gross margin declined 430 basis points when compared to the June quarter.

Net profit for the September quarter jumped to Rs 203 crore, a growth of 73 percent from last year.

Fine Organic Industries is the largest manufacturer of oleochemical-based additives in India and a key producer globally. The company produces a wide range of specialty plant-derived oleochemical-based additives used in food, plastic, cosmetics, paint, ink, coatings and other specialty applications in various industries.

Shares of Fine Organic Industries are trading 4.8 percent higher at Rs 6,226. The stock has gained nearly 90 percent over the last 12 months, compared to a 1.7 percent rise in the Nifty 50 index.

Fine Organic went public in 2018, selling shares at a price of Rs 783. The stock has returned nearly 9x to investors since then, within a four-year period.