Kiri Industries Ltd., a dye & dyestuff manufacturer based in India announced its results for the quarter and financial year ended March 31, 2020.
Q4 Results
The company’s net profit increased 532% to Rs 111.91 crores ($14.9 million) for the period ended March 31, 2020 as against net loss of Rs 25.90 crores ($3.5 million) for the prior-year quarter.
Net sales decreased 8.5% to Rs 300.39 crores ($40 million) during the period ended March 31, 2020 as compared to Rs 387.31 crores ($51.6 million) during the prior-year quarter.
Full-Year Results
The company’s net profit rose 129% to Rs 374.98 crores ($50 million) for the period ended March 31, 2020 as against net profit of Rs 163.90 crores ($21.8 million) last financial year.
The company has reported net sales of Rs 1310.67 crores ($174.7 million) during the period ended March 31, 2020, a 6.2% decline as compared to Rs 1396.50 crores ($186.1 million) last financial year.
The company has reported EPS of Rs 72.34 ($0.96) for the period ended March 31, 2020 as compared to Rs 31.62 ($0.42) for the last financial year.
Regarding the impact of the pandemic on its business, the Company said it is “closely monitoring the impact of the pandemic on all aspects of its business, including how it will impact its customers, employees, vendors and business partners.”
“The management has exercised due care, considering internal & extemal factors and information available to date while preparing the Company’s financial statements for the year ended 31st March, 2020.
The said impact assessment is ongoing process considering various external factors associated with COVID-19,” it further added.