Petrochemical
DIC India registers decline in March 2020 quarter sales revenue
Company's total sales declined by 12.48% to Rs 172.66 crore.
- By ICN Bureau
| June 12, 2020
DIC India has reported drop in profits as well as revenues wherein the net profit declined by 57.79% to Rs 2.41 crore in the quarter ended March 2020 as against Rs 5.71 crore in March 2019. Overall sales also declined by 12.48% to Rs 172.66 crore in the quarter ended March 2020 as against Rs 197.27 crore in March 2019.
Impact of COVID-19 pandemic on business:
1. After initial disruption due to lockdown, the manufacturing operations resumed in phases from the 1st week of April 20.
2. The supply chain was adversely affected in initial period but has improved gradually.
3. The overall demand was impacted due to the lockdown and is slowly improving with the phased lifting of restrictions by the authorities.
4. The impact of above will be known in Q2.
Overall, the operations are slowly returning and will take time to recover to pre-Covid times. and the general outlook for the financial year will remain uncertain.
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