Sudarshan Chemical Industries Ltd., India’s leading pigments manufacturer announced its results for the second quarter ended September 30, 2020.
Q2 Results- QoQ
The company’s net profit grew 66.7% to Rs 30.33 crores for the period ended September 30, 2020 as against net profit of Rs 18.19 crores for the previous quarter.
Net sales increased 22.2% to Rs 430.72 crores during the period ended September 30, 2020 as compared to Rs 352.59 crores during the previous quarter.
Q2 Results- YoY
The company’s net profit dropped 34.4% to Rs 30.33 crores for the period ended September 30, 2020 as against net profit of Rs 46.21 crores for the prior-year quarter.
Net sales increased 1% to Rs 430.72 crores during the period ended September 30, 2020 as compared to Rs 426.31 crores during the prior-year quarter.
Half-Year Results- YoY
The company’s net profit declined 45.4% to Rs 48.53 crores for the 6 months period ended September 30, 2020 as against net profit of Rs 88.91 crores for the prior-year 6 months period.
Net sales declined 7% to Rs 783.31 crores during the 6 months period ended Septem-ber 30, 2020 as compared to Rs 837.84 crores during the prior-year 6 months period.
The company said that it has evaluated the impact of COVID-19 pandemic on its business operations, liquidity and financial position and based on management’s review of current indicators and economic conditions, no material adjustment was considered necessary to its consolidated financial results as on 30 September 2020.