Chemical
Aarti Industries earnings drop on Covid-19 impact
Company's total income declined 9.93% YoY and stood at Rs.937.55 crores in Q1FY21.
- By ICN Bureau
| August 12, 2020
Aarti Industries Ltd earnings and profit plumneted during first quarter of the current fiscal due to lower market demand caused by Covid-19 pandemic.
The company's total income declined 9.93% YoY and stood at Rs.937.55 crores in Q1FY21 as compared to Rs.1040.88 crores in the same period last year.
Revenues from its key business i.e. specialty chemicals segment saw a drop on a YoY basis and the sales stood at Rs.840.85 crores versus Rs.944.35 crores last year. However its pharmaceutical segment sales were slightly up and stood at Rs.194.27 crores versus Rs.191.14 crores pervious year.
Net profit also dropped sharply by 40.74% YoY and reached Rs.81.86 crores for the period ended June 30, 2020 as against Rs.138.13 crores last year.
The company has reported EPS of Rs.4.70 for the period ended June 30, 2020 as compared to Rs.7.93 for the period ended June 30, 2019.
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