Chemical
Vinati Organics reports drop in earnings, profit
Company's sales dropped by 21.74% YoY and stood at Rs 231.57 crore in Q1 FY21 as against Rs 295.92 crore previous year.
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By ICN Bureau | August 03, 2020
Vinati Organics Ltd. witnessed a tough situation during first quarter of the current fiscal wherein its earnings and profit fell YoY due to lockdown and
sluggish demand.
Company's sales dropped by 21.74% YoY and stood at Rs 231.57 crore in Q1 FY21 as against Rs 295.92 crore previous year.
EBITDA decreased by 22.47% and stood at Rs 97.18 crore as compared to Rs 125.35 crore.
The net profit was Rs 72.30 crore that declined by 12.21% yoy, as compared to Q1 FY20, when it had reported Rs 82.36 crore.
Due to lockdown in April, financial numbers during the quarter were impacted, said the company in its filing to exchanges.
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