Vipul Organics Ltd., a dyestuff and intermediates manufacturer based in India announced its results for the first quarter ended June 30, 2020.
Q1 Results- QoQ
The company’s net profit grew 241% to Rs 1.09 crores ($0.15 million) for the period ended June 30, 2020 as against net profit of Rs 0.32 crores ($0.043 million) for the previous quarter.
Net sales dropped 8.2% to Rs 20.32 crores ($2.8 million) during the period ended June 30, 2020 as com-pared to Rs 22.13 crores ($3 million) during the previous quarter.
Q1 Results- YoY
The company’s net profit dropped 4.4% to Rs 1.09 crores ($0.15 million) for the period ended June 30, 2020 as against net profit of Rs 1.14 crores ($0.15 million) for the prior-year quarter.
Net sales declined 5.3% to Rs 20.32 crores ($2.8 million) during the period ended June 30, 2020 as compared to Rs 21.46 crores ($2.9 million) during the prior-year quarter.
On the impact of the pandemic on its business, Vipul Organics Ltd in its stock exchange filings said, “Due to complete lock down announced by the Government of India, the operations of the Company have initially slowed down resulting into adverse effect on the business during the current quarter.”
“While the Company is presently running its business, the future impact of COVID-19 pandemic on the Company’s business cannot be quantified with certainty at this stage and the same will depend on how the economy recovers.