Sagar Cements Ltd’s net profit nosedived 93 percent at Rs 1.18 cr for Q4FY20

New Delhi: Sagar Cements Ltd’s consolidated net profit nosedived 93 percent at Rs 1.18 crore for the fourth quarter of the 2019-20 fiscal as compared to Rs 18.75 crore in the same period of the previous fiscal.  The consolidated revenues of the company fell 16 percent to Rs 305.87 crore for the fourth quarter of the 2019-20 fiscal as compared to Rs 366.73 crore in the same period of the previous fiscal.  

For the entire fiscal 2019-20, the consolidated net profit of the company jumped nearly two fold to Rs 26.53 crore as compared to a net profit of Rs 13.59 crore in the previous fiscal. The consolidated revenues for the entire fiscal 2019-20 fell marginally by 3 percent to Rs 1,179.18 crore as compared to Rs 1,220.43 crore in the previous fiscal, the company said in a statement.

The sales volume of cement fell 11 percent in the for the fourth quarter of the 2019-20 fiscal at 8,36,922 MT as compared to 9,44,208 MT in the same period of the previous fiscal. The sales volume of cement declined about 5 percent for the entire fiscal 2019-20 at 31,31,303 MT as compared to 33,22,956 MT in the previous fiscal. 

The corona pandemic led to a shutdown of the company’s plants from 23 March to 3 May. The factories are currently operating at levels of around 30 percent. The pandemic has disrupted logistic and labour movement impacting sales activities. 

 

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