Clariant Chemicals announced its financial results for the year ended March 31, 2020. The company reported sales from continuing operations of Rs. 757 crores for the year ended March 31, 2020, as compared to sales of Rs. 719 crores in the corresponding previous year period, signifying a growth of 5.4 per cent. The net profit stood at Rs. 71 crores as against Rs. 30 crores in the corresponding previous year.
The board has recommended a final Dividend of Rs. 11 /- per share (110 per cent).
For the quarter ended March 2020, the profit before tax grew 158 per cent to Rs. 28 crores as against Rs. 11 crores in the corresponding previous year period. Sales from continuing business contracted by 8.4 per cent to Rs. 169 crores for the quarter ended March 2020, as against Rs. 185 crores for the corresponding quarter in the previous year. Manufacturing and trading activity were shut down in the last week of March 2020 in keeping with the lockdown announced by the government across the country.
The sales from continuing operations was lower by 8.4 per cent, at Rs. 169 crores, for the quarter ended March 2020, as against Rs. 185 crores for the corresponding quarter in the previous year. The profit before tax of Rs. 28 crores for the quarter ended March 2020, as compared to profit before tax of Rs.11 crores in the corresponding previous year period – signifies a growth of 158.4 per cent.
‘‘The Company’s strong bottom line and cash performance is a result of the continued momentum from our strategy to drive profitable growth while expanding our presence in the market with superior products. The prevailing situation with the COVID-19 pandemic has impacted our sales growth this quarter, and we will continue to look at ways to adjust to the new normal,’’ said Adnan Ahmad, Vice Chairman & Managing Director, Clariant Chemicals.