Mayur Uniquoters hit an upper circuit of 20% at Rs 207.90 after the company's consolidated net profit jumped 16.85% to Rs 24.83 crore on 2.62% rise in net sales to Rs 131.11 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax stood at Rs 32.81 crore in Q4 FY20, by 14.2% from Rs 28.72 crore in Q4 FY19. Current tax expense rose 7.1% YoY to Rs 9.82 crore during the quarter.
The company said its operations were impacted due to shutdown of all plants and offices following nationwide lockdown. The company has resumed operations in a phased manner as per directives from the Government of India.
"The impact assessment of COVID-19 is a continuing process given the uncertainties associated with its nature and duration and accordingly the impact may be different from that estimated as at the date of approval of these financial statements. The company will continue to monitor any material changes to future economic conditions," the company said.
Mayur Uniquoters manufactures and exports various types of PU leather, PVC leather and synthetic leather. The company's consumers consist of the furniture, automotive industries, footwear, apparel, luggage, sports goods, upholstery and leather goods industry.
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