Valiant Organics Limited., a specialty chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2020.
Q2 Results- QoQ
The company’s net profit increased 24.4% to Rs 30.7 crores for the period ended September 30, 2020 as against net profit of Rs 24.68 crores for the previous quarter.
Net sales grew 13.2% to Rs 168.94 crores during the period ended September 30, 2020 as compared to Rs 149.26 crores during the previous quarter.
Q2 Results- YoY
The company’s net profit dropped 1.7% to Rs 30.7 crores for the period ended September 30, 2020 as against net profit of Rs 31.23 crores for the prior-year quarter.
Net sales grew 2% to Rs 168.94 crores during the period ended September 30, 2020 as compared to Rs 165.78 crores during the prior-year quarter.
Half-Year Results- YoY
The company’s net profit dropped 23.6% to Rs 55.38 crores for the 6 months period ended September 30, 2020 as against net profit of Rs 72.48 crores for the prior-year 6 months period.
Net sales dropped 10.8% to Rs 318.21 crores during the 6 months period ended September 30, 2020 as compared to Rs 356.78 crores during the prior-year 6 months period.
On the impact of current pandemic on its financial results, Valiant Organics Limited in its stock exchange filing said, “The company’s operations suffered in the first quarter of current FY 2020-21 due to nationawide lockdown announced by the Central and State government authorites to contain the spread of the pandemic.
The operations were gradually resumed post-lockdown with due precautions. The results of the half-year are therefore not comparable with those of the previous periods.”