Bodal Chemicals Ltd reported decline in its revenues resulting in incurring loss during first quarter of the current fiscal year due to lower market demand cased by Covid-19 pandemic.

 

The company's revenue declined 67% YoY and stood at Rs.122.29 crores in Q1FY21 from Rs.374.16 crores during the corresponding period of last year.

 

Lower sales severely impacted the bottomline due to which the the company ran into a loss of Rs.19.54 crores in Q1FY21 as against Rs.27.48 crores for the period ended June 30, 2019.

 

The company had recently received the environment clearance from Ministry Of Environment, Forests and Climate change for expansion of its dyes and dyes intermediates manufacturing capacity from 2,200 MTPM to 6,000 MTPM and co-generation Power Plant (SMW) at its Vadodara plant.