Chemical
IOL Chemicals & Pharmaceuticals reports drop in FY20 Q4 net profit but annual revenue rises
The company's annual revenue for FY20 from chemical segment was also down to Rs 711.96 crore as against Rs 765.34 in FY19.
- By ICN Bureau
| June 15, 2020
IOL Chemicals & Pharmaceuticals Ltd reported decline in net profit by 11.21% to Rs 90.26 crore in the quarter ended March 2020 as against Rs 101.65 crore in March 2019 quarter. However the sales rose 4.54% to Rs 441.46 crore in the quarter ended March 2020 as against Rs 422.29 crore in March 2019 quarter.
The company's annual revenue for FY20 from chemical segment was also down to Rs 711.96 crore as against Rs 765.34 in FY19.
For the full year, net profit rose 52.64% to Rs 361.29 crore in the year ended March 2020 as against Rs 236.70 crore during the previous year ended March 2019. Sales rose 12.41% to Rs 1894.47 crore in the year ended March 2020 as against Rs 1685.33 crore during the previous year ended March 2019.
The board announced re-appointment of Vikas Gupta as Executive Director of the company for five years with effect from 29 May 2020 to 28 May 2025, subject to the approval of the members. Vikas is BSc. (Hons.) in Business Management from Kings College London and has an experience of about 7 years in field of strategy and business management. He is actively involved in the day to affairs and strategy of the company.
Vijay Garg, Joint Managing Director, apprised that the company has become debt free by pre-paying its outstanding term loan. There is no term loan outstanding as on 31st March, 2020. He, further, added that the company has paid Interim Dividend of Rs 3/- per Share for the “Financial Year 2019-20”, in March 2020”.
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