Chemical
Valiant Organics profit drops despite higher sales
Net dropped 1.7% YoY in Q2FY21 and stood at Rs.30.70 crores
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By ICN Bureau | November 16, 2020
Valiant Organics Ltd has reported a marginal drop in its profits in second quarter of the current fiscal due to higher opeational costs.
The company's sales rose by 1.91% YoY and stood at Rs.168.94 crores in Q1FY21 as compared to Rs.165.78 crores during the same period last year.
However the company has witnessed a slight dip in profits by 1.7% YoY in Q2FY21 whereby the final numbers settled at Rs.30.70 crores as against Rs.31.23 crores last year.
Meanwhile, the company's board of directors approved to issue of bonus shares in the ratio of 1:1 i.e. 1 bonus equity share for 1 fully paid up equity share held.
The board also approved payment of interim dividend for the financial year 2020-21 of Rs 5 per share i.e. (50 per cent on equity shares) of Rs 10 each. The company has fixed Wednesday, November 25, 2020, as the “record date” for the purpose of entitlement of shareholders for the payment of interim dividend.
The company is primarily into manufacturing of chemicals, 4-di chloro phenol, 6-di chloro phenol, para chloro phenol, ortho chloro phenol, 6-tri chloro phenol and anisole.
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