The net profit stood at Rs.71 crore as against Rs.30 crore in the corresponding previous year.

Clariant Chemicals (India) Limited has announced its financial results for the year ended March 31, 2020. The company reported sales from continuing operations of Rs.757 crore for the year ended March 31, 2020, as compared to sales of Rs.719 crore in the corresponding previous year period, signifying a growth of 5.4 %. The net profit stood at Rs.71 crore as against Rs.30 crore in the corresponding previous year.

The Board has recommended a Final Dividend of Rs. 11 /- per share (110 %).

For the quarter ended March 2020, the profit before tax grew 158% to Rs.28 crore as against Rs.11 crore in the corresponding previous year period. Sales from continuing business contracted by 8.4% to Rs.169 crore for the quarter ended March 2020, as against Rs. 185 crore for the corresponding quarter in the previous year. Manufacturing and trading activity were shut down in the last week of March 2020 in keeping with the lockdown announced by the government across the country.

The sales from continuing operations was lower by 8.4 %, at Rs.169 crore, for the quarter ended March 2020, as against Rs. 185 crore for the corresponding quarter in the previous year. The profit before tax of Rs.28 crore for the quarter ended March 2020, as compared to profit before tax of Rs.11 crore in the corresponding previous year period - signifies a growth of 158.4 %.

"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. The prevailing situation with the COVID-19 pandemic has impacted our sales growth this quarter, and we will continue to look at ways to adjust to the new normal,'' said Adnan Ahmad, Vice Chairman & Managing Director, Clariant Chemicals (India) Limited.

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