Clariant Chemicals’ Q1 Sales stood at Rs 128.9 crores
Mumbai, August 14, 2020: Clariant Chemicals (India) Limited, a focused, sustainable and innovative specialty chemical company today announced its first quarter financial results for the quarter ended June 30, 2020. The company reported profit before tax of Rs. 4.1 crore for the quarter ended June 2020, as compared to profit before tax of Rs. 10.5 crore for the quarter ended June 2019 – witnessing a drop of 61% caused by the impact of COVID-19 outbreak and subsequent continued nationwide lockdown. The Company reported decline in Sales of 39%, at Rs. 128.9 crore, for the quarter ended June 2020 as against Rs. 209.8 crore for the corresponding quarter in the previous year.
“We closed our offices and laboratories across the country on March 16, well before the national lockdown, as we wanted to be abundantly cautious with managing the Covid-19 risk at the workplace. Subsequently, we closed our plants as well. However, we started manufacturing gradually to bolster the essential services sectors to support the country to cope with the pandemic. The financial performance of the company was impacted in the first quarter (April – June) 2020-21 by this disruption caused by COVID-19, although there were definite signs of recovery towards the end of the Q1FY20/21. Our continued strong focus on Excellence in Execution has given us the resilience to stay profitable, reduce costs and manage cash to prepare us to weather this storm,” said Adnan Ahmad, Vice Chairman & Managing Director, Clariant Chemicals (India) Limited.
For the sales relating to continuing and discontinued operations, please download the PDF of the press release.
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