Vishnu Chemicals Ltd., a specialty chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020.
Q1 Results- QoQ
The company’s net profit rose 147% to Rs 12.48 crores ($1.7 million) for the period ended June 30, 2020 as against net profit of Rs 5.05 crores ($0.67 million) for the previous quarter.
Net sales declined 6% to Rs 151.93 crores ($20.3 million) during the period ended June 30, 2020 as com-pared to Rs 161.06 crores ($21.5 million) during the previous quarter.
Q1 Results- YoY
The company’s net profit rose 83% to Rs 12.48 crores ($1.7 million) for the period ended June 30, 2020 as against net profit of Rs 6.82 crores ($0.91 million) for the prior-year quarter.
Net sales declined 16% to Rs 151.93 crores ($20.3 million) during the period ended June 30, 2020 as compared to Rs 180.81 crores ($24.1 million) during the prior-year quarter.
On the impact of the pandemic on its business, Vishnu Chemicals Ltd in its stock exchange filings said, “The Company’s activities were affected marginally on the domestic sales side due to COVID-19 and the management is actively assessing the continuing impact of the same going forward. No impact is expected on the carrying value of assets in terms of their recoverability and operational efficiencies as at the time of making the assessment.”