Paushak Ltd. has announced growth in net profit for its fourth quarter and full-year ended 31 March.
The company’s net profit grew 73% to Rs 11.01 crore ($1.5 million) in fourth quarter 2020-21 compared to prior year quarter’s Rs 6.37 crore ($0.87 million).
Revenue from operations grew 30% to Rs 39.90 crore ($5.4 million) in the quarter compared with Rs 30.77 crore ($4.2 million) in the prior year quarter.
Full-Year Results
For the year ending March 31, 2021, Paushak’s net profit increased 7% to Rs 37.30 crore (5.1 million) as compared with Rs 34.91 crore ($4.8 million) the prior year.
Full-year revenue from operations in 2020-21 saw 3.3% growth at Rs 147.13 crore ($20 million) as against Rs 142.5 crore ($19.4 million) in 2019-20.
Due to resurgence of Covid-19 cases India, acute shortage of oxygen and resultant Govermnent restrictions on use of oxygen for industrial purposes, the Company temporarily suspended its manufacturing operations w.e.f. 28th April, 2021.
“In view of prevailing uncertainty, the impact on the business is difficult to ascertain. The Company’s management believes that the impact is short term in nature,” the company said in a statement.