National Peroxide Ltd., a peroxide chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020.
Q1 Results- QoQ
The company reported a net loss of Rs (1.78) crores ($0.24 million) for the period ended June 30, 2020 as against net profit of Rs 3.03 crores ($0.41 million) for the previous quarter.
Net sales dropped 34% to Rs 33.24 crores ($4.5 million) during the period ended June 30, 2020 as com-pared to Rs 50.28 crores ($6.8 million) during the previous quarter.
Q1 Results- YoY
The company reported a net loss of Rs (1.78) crores ($0.24 million) for the period ended June 30, 2020 as against net profit of Rs 14.63 crores ($2 million) for the prior-year quarter.
Net sales dropped 48% to Rs 33.24 crores ($4.5 million) during the period ended June 30, 2020 as compared to Rs 63.49 crores ($8.6 million) during the prior-year quarter.
On the impact of the pandemic on its business, National Peroxide Ltd in its stock exchange filings said, “During the quarter, the operations of the Company were impacted due to shutdown of plant on March 30, 2020 following the lockdown imposed in India from March 25, 2020. The Company has commenced its operations from May 23, 2020 in line with the directives from the relevant government authorities.”
“The Company has taken into account the possible impact of COVID-19 in preparation of these standalone financial results for the period, including but not limited to assessment of liquidity and going concern assumption, recoverable values of its financial and non-financial assets and impact on revenue. Given the uncertainties associated with the evolving nature of COVID-19 pandemic, the impact of COVID-19 on the standalone financial results may differ from that estimated as at the date of approval of these standalone financial results.”