Chemcon Speciality Chemicals Limited., a speciality chemicals manufacturer announced its results for the second quarter ended September 30, 2020.
Q2 Results- QoQ
The company’s net profit increased 76.4% to Rs 15.58 crores for the period ended September 30, 2020 as against net profit of Rs 8.83 crores for the previous quarter.
Net sales grew 34.1% to Rs 61.67 crores during the period ended September 30, 2020 as compared to Rs 46 crores during the previous quarter.
Q2 Results- YoY
The company’s net profit grew 14.4% to Rs 15.58 crores for the period ended September 30, 2020 as against net profit of Rs 13.62 crores for the prior-year quarter.
Net sales dropped 6.7% to Rs 61.67 crores during the period ended September 30, 2020 as compared to Rs 66.07 crores during the prior-year quarter.
Half-Year Results- YoY
The company’s net profit declined 19% to Rs 24.41 crores for the 6 months period ended September 30, 2020 as against net profit of Rs 30.11 crores for the prior-year 6 months period.
Net sales dropped 31% to Rs 107.53 crores during the 6 months period ended September 30, 2020 as compared to Rs 155.72 crores during the prior-year 6 months period.
On the impact of the pandemic on its business, Chemcon Speciality Chemicals Ltd in its stock exchange filing said, “Pursuant to the lockdowns by the central and state govemment authorities to contain the spread of COVID-19 outbreak, the Company’s operations and financial results for the quarter ended 30th June, 2020 have been impacted. The operations gradually resumed in a phased manner with requisite precautions during the half year ended September 30, 2020.”
“The Company will continue to closely monitor any material changes to future economic conditions.”