Sudarshan Chemical Industries Ltd., a pigments and chemicals manufacturer based in India announced its results for the first quarter ended June 30, 2020.
Q1 Results- QoQ
The company’s net profit dropped 33.4% to Rs 18.19 crores ($2.4 miilion) for the period ended June 30, 2020 as against net profit of Rs 27.30 crores ($3.6 miilion) for the previous quarter.
Net sales declined 22% to Rs 352.59 crores ($47 miilion) during the period ended June 30, 2020 as compared to Rs 450.10 crores ($60 miilion) during the previous quarter.
Q1 Results- YoY
The company’s net profit dropped 57% to Rs 18.19 crores ($2.4 miilion) for the period ended June 30, 2020 as against net profit of Rs 42.70 crores ($5.7 million) for the prior-year quarter.
Net sales declined 14.4% to Rs 352.59 crores ($47 miilion) during the period ended June 30, 2020 as compared to Rs 411.53 crores ($54.8 miilion) during the prior-year quarter.
Sudarshan Chemical said there was no impact of COVID-19 pandemic on its operations during the quarter as the company was able to operate its plants at normal levels. “The company’s production, dispatches, sales and market collections remained unaffected,” it said in the filing.