Ion Exchange (India) fell 3.26% to Rs 704.55 after consolidated net profit dropped 20.3% to Rs 28.72 crore on 18.7% decline in net sales to Rs 351.09 crore in Q4 March 2020 over Q4 March 2019.
Consolidated profit before tax (PBT) tanked 24.6% to Rs 39.27 crore in Q4 March 2020 as against Rs 52.07 crore in Q4 March 2019. Current tax expense slumped 28.9% to Rs 11.62 crore in Q4 March 2020 as against Rs 16.35 crore in Q4 March 2019.
The board has recommended a final dividend of Rs 1.50 per equity share for FY 2019-20. The Q4 result was declared after market hours yesterday, 25 June 2020.
Consequent to the Government of India declaring a national lockdown on 24 March 2020, the business operations of the company were affected by way of interruption in production, supply chain disruption, unavailability of personnel, closure/lock down of production facilities, etc. Recently, the company has received the necessary permissions from the Sri Lanka Government to resume civil works for the major project being executed in Sri Lanka.
Ion Exchange (India) is engaged in water and environment management business. The company offers products, including ion exchange resins, water treatment plants and chemical additives.
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