Fine Organic Industries Ltd reported a drop in sales and profit during the first quarter of the current fiscal year due to lockdown measures imposed by the Government to control spread of Covid-19 pandemic.

 

The company reported fall in revenues by 4% YoY during the quarter and sales stood at Rs 241.54 crore as against Rs 254.93 crore in the same period last year.

 

Net profit dropped by 16.65% Yoy and reached Rs 28.63 crore in Q1FY21 as against Rs 37.57 crore last year.

 

The company has reported EPS of Rs. 9.34 for the period ended June 30, 2020 as compared to Rs.12.26 in 2019.

 

Fine Organics recently announced 20,000 TPA expansion plans by FY2022 at its Patalganga and German facility which will help taking the overall capacity of 121,300 TPA.