Sudarshan Chemical Limited has reported a drop in its profit despite higher sales YoY in the second quarter of current fiscal.

 

The company posted a near flat growth of 1.03 percent YoY and its total sales stood at Rs. 430.72 crores during the period ended September 30, 2020 as compared to Rs.426.31 crores last year.

 

However the company's profit fell drastically by 34 percent YoY and reached Rs. 30.33 crores in second quarter as against Rs. 46.21 crores for the period ended September 30, 2019.

 

Recently the company had delayed Rs. 345 crore capex plan due to Covid-19 and related uncertainties.

 

The company had reported drop in sales and profit in first quarter as well and the drop in revenue was primarily due to lower number of days operations and running plants at lower utilisation levels.