Som Distilleries reports 17 pc jump in FY20 sales of Rs 460 crore

Bhopal (Madhya Pradesh) [India], June 29 (ANI): Integrated alcobev player Som Distilleries and Breweries Ltd on Monday reported net sales of Rs 460 crore in FY 2019-20 as compared to Rs 393 crore in the previous fiscal reflecting a growth of 17 per cent.

The earnings before interest, taxes, depreciation and amortisation (EBIDTA), however, fell to Rs 48 crore from Rs 53 crore in the same period. Similarly, profit after tax was Rs 15 crore as compared to Rs 20 crore.

The company said sales and the margins were impacted by the outbreak of COVID-19 pandemic. "The operations were severely impacted since early March due to the outbreak of COVID-19 pandemic and unfortunately right at the start of the season for beer for FY21."

There were no operations in April and some activity picked up in May. The company has sufficient liquidity and demand for its products to continue its operations.

Som Distilleries said the overall situation continues to be fluid as major markets have only partially opened. "We are closely monitoring the situation and have initiated crisis management actions to ensure the safety and security of the employees as well as uninterrupted operations."(ANI)