Voltamp Transformers' net profit dropped 64.13% to Rs 11.54 crore on 22.71% fall in total income to Rs 210.44 crore in Q4 March 2020 over Q4 March 2019.
The announcement was made after market hours yesterday. Shares of Voltamp Transformers rose 3.63% to end at Rs 1073.95 on Wednesday.
Voltamp Transformers said the company has evaluated the impact of COVID-19 on its financial statements based on the internal and external information up to the date of approval of these financial statements and expect to recover the carrying amount of inventories, receivables and investments. The company does not foresee any material impact on liquidity and assumption of going concern. Till the time business operations at customers' end get fully functional and supplies chain with vendors totally restored, business operation of the company will remain at sub-optimal level inspite of having good order backlog. The company will continue to monitor the future market conditions and update its assessment.
Voltamp Transformers is engaged in the manufacturing of electrical transformers. The company's products include oil filled transformers, cast resin transformers, unitised sub-station, induction furnace transformers and lighting transformers.
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