Atul reported a 20.7% drop in consolidated net profit to Rs 117.94 crore in Q1 June 2020 as against Rs 148.74 crore in the same period last year.
Revenue from operations for Q1 June 2020 stood at Rs 660.56 crore, falling 36.5% from Rs 1040.55 crore in Q1 June 2019. The result was announced during market hours today, 24 July 2020.Profit before tax in Q1 June 2020 was at Rs 163.79 crore, falling 25% year on year from Rs 217.68 crore in Q1 June 2019. Total tax expense declined 33% to Rs 45.85 crore in Q1 June 2020 over Q1 June 2019.
The company said that manufacturing facilities of the group in India, which were shut down in the last week of March 2020 due to countrywide lockdown, resumed operations in a phased manner from the last week of April 2020 after obtaining the requisite approvals.
Shares of Atul jumped 4.41% to Rs 4,920.05. The scrip traded in the range of Rs 4684.05 to Rs 4942.
Atul is an integrated chemical company. The company operates through two segments: life science chemicals, and performance and other chemicals.
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