Clariant Chemicals’ Q2 2020 performance witness robust recovery over Q1, 2020
- Q1 (April-June 2020) impacted by Covid Pandemic
- Q2 (July-Sept 2020), robust increase of 40% in Sales and 198% in Profits, over previous quarter, in this year
Mumbai, November 12, 2020: Clariant Chemicals (India) Limited, a focused, sustainable and innovative specialty chemical company today announced its financial results for the second quarter ended September 30, 2020. The company reported Profit before exceptional item & tax of Rs. 12.2 crore for the quarter ended September 30, 2020, as compared to Rs. 4.1 crore for the quarter ended June 30, 2020 – witnessing a significant increase of 198%. The Sales rose by 40% at Rs. 180.8 crore, for the quarter ended September 30, 2020 as against Rs. 128.9 crore in the previous quarter, this year. The Company resumed a phased back to normal operations, in line with directives from the authorities, even though the Covid challenges still persists around us.
The Profit before exceptional item & tax stood at Rs. 12.2 crore for the quarter ended September 30, 2020, as compared to Rs. 16.2 crore for the quarter ended September 30, 2019. The Sales declined by 5%, at Rs. 180.8 crore, for the quarter ended September 30, 2020 as against Rs. 189.7 crore for the corresponding quarter in the previous year. For half year ended September 2020, the Profit before exceptional item & tax stood at Rs. 16.3 crore as compared to Rs. 26.8 crore for half year ended September 2019 – a decline of 39%. The Company reported sales of Rs. 309.8 crore in the first half of 2020, as against Rs. 399.5 crore for the corresponding half of the previous year.
“Coming out of a strong performance in the previous fiscal year, the COVID pandemic impacted our sales in Q1, this fiscal. However, the latest quarter has already seen a good recovery with a 40% higher Sales growth at Rs. 180.8 crore, over the preceding quarter and a 198% increase in Profits at Rs. 12.2 crore. We look forward to continued growth in the months ahead. Clariant’s top priority continues to be the safety and well-being of our employees and customers,” said Adnan Ahmad, Vice Chairman & Managing Director, Clariant Chemicals (India) Limited.
