Indo Amines Ltd., an alkyl amine chemicals manufacturer based in India announced its results for the quarter and financial year ended March 31, 2020.
Q4 Results
The company’s net profit decreased 78% to Rs 1.51 crores ($0.2 million) for the period ended March 31, 2020 as against net profit of Rs 6.77 crores ($0.9 million) for the prior-year quarter.
Net sales declined 12.3% to Rs 122.32 crores ($16.3 million) during the period ended March 31, 2020 as compared to Rs 139.39 crores ($18.6 million) during the prior-year quarter.
Full-Year Results
The company’s net profit decreased 52% to Rs 12.14 crores ($1.6 million) for the full-year period ended March 31, 2020 as against net profit of Rs 25.11 crores ($3.4 million) for the last financial year.
The company has reported net sales of Rs 485.33 crores ($64.8 million) during the full-year period ended March 31, 2020, a 9.3% decline as compared to Rs 535.27 crores ($71.5 million) during the last financial year.
On the impact of the pandemic on its business, Indo Amines Ltd in its stock exchange filing said, “The Company has assessed the impact of this pandemic on its business operations and has considered all relevant internal and external infromation. With the graded opening of plants the company is making every effort possible to make up for the loss time due to pandemic. However, due to non availability of sufficient skilled and unskilled workmen the production has been effected.
The impact, to the business and future economic condition of the lock down, disruption will have to be assessed from time to time; at this stage it is premature to forecast the future impact with credibility.”