Clariant Chemicals reports Q4 profit of Rs 28 crore

Mumbai (Maharashtra) [India], June 18 (ANI): Clariant Chemicals India has reported profit before tax of Rs 28 crore for the quarter ended March, up 158 per cent from Rs 11 crore in the corresponding previous year period.

But sales from continuing business contracted by 8.4 per cent to Rs 169 crore in Q4 FY20 as against Rs 185 crore in Q4 FY19 as manufacturing and trading activity were shut in the last week of March due to Covid-19 lockdown announced by the government.

"The company's strong bottom line and cash performance is a result of the continued momentum from our strategy to drive profitable growth while expanding our presence in the market with superior products," said Vice Chairman and Managing Director Adnan Ahmad.

"The prevailing situation with the COVID-19 pandemic impacted our sales growth this quarter, and we will continue to look at ways to adjust to the new normal," he said.

The speciality chemical company clocked sales of Rs 757 crore for the year ended March 31 as compared to Rs 719 crore in FY19, signifying a growth of 5.4 per cent. The net profit stood at Rs 71 crore as against Rs. 30 crores in the corresponding previous year.

The board of director has recommended a final dividend of Rs 11 per share (110 per cent), the company said in a statement. (ANI)