Sudarshan Chemical Industries' consolidated net profit skid 34.4% to Rs 30.33 crore on 1.1% increase in net sales to Rs 423.24 crore in Q2 September 2020 over Q2 September 2019.
Consolidated profit before tax (PBT) declined 9.6% to Rs 42.47 crore in Q2 September 2020 as against Rs 46.97 crore in Q2 September 2019. Current tax expense for the quarter fell 3.6% to Rs 10.59 crore as against Rs 10.99 crore in Q2 September 2019. The Q2 result was declared after market hours yesterday, 23 October 2020.
The company said that it has evaluated the impact of COVID-19 pandemic on its business operations, liquidity and financial position and based on management's review of current indicators and economic conditions, no material adjustment was considered necessary to its consolidated financial results as on 30 September 2020.
Sudarshan Chemical Industries manufactures color pigments, which are used in paints, printing inks, plastics, rubber artist materials, and textile printing. The group also manufactures a basic range of pesticides.
Shares of Sudarshan Chemical Industries rose 0.39% to Rs 487.95 on Friday. The scrip has jumped 70.46% from its 52-week low of Rs 286.25 hit on 13 March 2020.
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