Punjab Alkalies and Chemicals Ltd. (PACL), a chlor-alkali manufacturer based in India announced its results for the second quarter ended September 30, 2020.
Q2 Results- QoQ
The company reported a net profit of Rs 3.41 crores for the period ended September 30, 2020 as against net loss of Rs 3.32 crores for the previous quarter.
Net sales increased 49% to Rs 60.12 crores during the period ended September 30, 2020 as compared to Rs 40.41 crores during the previous quarter.
Q2 Results- YoY
The company reported a net profit of Rs 3.41 crores for the period ended Septem-ber 30, 2020 as against net profit of Rs 1.35 crores for the prior-year quarter.
Net sales declined 21% to Rs 60.12 crores during the period ended September 30, 2020 as compared to Rs 76.34 crores during the prior-year quarter.
Half-Year Results- YoY
The company’s net profit declined 99% to Rs 0.08 crores for the 6 months period ended September 30, 2020 as against net profit of Rs 10.60 crores for the prior-year 6 months period.
Net sales increased 40% to Rs 100.54 crores during the 6 months period ended Septem-ber 30, 2020 as compared to Rs 169.20 crores during the prior-year 6 months period.
Last month, the state cabinet of Punjab has given the go ahead for disinvestment of 33.49% equity shareholding of PACL, held by state-owned Punjab State Industrial Development Corporation (PSIDC).