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Clariant Chemicals’ sales grew by 5.4 % to Rs. 757.3 crores
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Tuesday, 07 July, 2020, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Clariant Chemicals (India) Limited, a focused, sustainable and innovative specialty chemical company announced its financial results for the year ended March 31, 2020.
The company reported sales from continuing operations of Rupeess 757 crores for the year ended March 31, 2020, as compared to sales of Rupees 719 crores in the corresponding previous year period, signifying a growth of 5.4 per cent. The net profit stood at Rupees 71 crores as against Rupees 30 crores in the corresponding previous year.
The Board has recommended a Final Dividend of Rupees 11 per share (110 per cent). For the quarter ended March 2020, the profit before tax grew 158 per cent to Rupees 28 crores as against Rupees 11 crores in the corresponding previous year period.
Sales from continuing business contracted by 8.4 per cent to Rupees 169 crores for the quarter ended March 2020, as against Rupees 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 Rupees 169 crores, for the quarter ended March 2020, as against Rupees 185 crores for the corresponding quarter in the previous year.
The profit before tax of Rupees 28 crores for the quarter ended March 2020, as compared to profit before tax of Rupees 11 crores in the corresponding previous year period – signifies a growth of 158.4 per cent.
Adnan Ahmad, vice chairman and managing director, Clariant Chemicals (India) Limited, said, ‘‘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.’’
The sales relating to continuing and discontinued operations is as below (in crores):
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Particulars
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3 months ended March 31, 2020
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12 months ended March 31, 2020
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Sales from continuing operations
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169.5
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757.3
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Sales from discontinued operations
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67.3
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327.5
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Total
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236.8
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1,084.8
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