Aarti Industries, an Indian pharmaceutical ingredients and chemicals manufacturer, announced its results for the quarter and financial year ended 31 March 2020.
The company’s consolidated net profit declined 11.9% to Rs 110.35 crore ($14.7 million) in the quarter ended March 2020 as against Rs 125.25 crore ($16.6 million) during the prior year quarter.
Sales declined 5.7% to Rs 1076.15 crore ($142.9 million) in the quarter ended March 2020 as against Rs 1141.10 crore ($151.5 million) during the previous quarter ended March 2019.
Decline is sales is attributed to the demand slump caused by Covid-19 pandemic lockdowns during the quarter.
Full-Year Results:
For the full year, net profit rose 9.0% to Rs 536.08 crore ($71.2 million) in the year ended March 2020 as against Rs 491.74 crore ($65.3 million) during the previous year ended March 2019.
Sales rose 0.5% to Rs 4186.31 crore ($555.9 million) in the year ended March 2020 as against Rs 4167.56 crore ($555.3 million) during the previous year ended March 2019.
Segement-wise Results:
Consolidated revenue of specialty chemicals segment for the March quarter was marginally lower, by 0.4%, as it stood at Rs 983.54 crore ($130.6 million) while full-year revenue from the segment stood at Rs 3,864.95 crore ($513.2 million), a 3% decline from previous year.
The earnings of the pharmaceuticals segment saw a decline by 3.0% to Rs 206.36 crore ($27.4 million) in the March quarter as against the prior year quarter. Full-year consolidated revenue for the segment stood at Rs 755.74 crore ($100.4 million), a 4% increase from previous year.