Srikalahasthi Pipes Ltd’s net profit jumps 43% at Rs 50.72 cr for Q4FY20

New Delhi: Srikalahasthi Pipes Ltd’s net profit jumped 43 percent at Rs 50.72 crore for the fourth quarter of the 2019-20 fiscal as compared to Rs 35.83 crore in the same quarter of the previous fiscal. The revenue from operations dipped marginally to Rs 398.47 crore for the fourth quarter of 2019-20 fiscal as compared to Rs 408.69 crore in the same quarter of the previous fiscal.

For the entire fiscal 2019-20, the net profit of the company jumped 37 percent to Rs 187.67 crore as compared to Rs 117.53 crore in the previous fiscal. The revenue from operations increased marginally to Rs 1,662.90 crore as compared to Rs 1,558.80 crore in the previous fiscal, the company said in a regulatory filing.

The profit before tax for the quarter ended 31 March 2020 was Rs 64 crore as compared to Rs 47.43 crore for the same quarter of the previous fiscal. 

The profit before tax for the fiscal ended 31 March 2020 was Rs 236.52 crore as compared to Rs 160.05 crore in the previous fiscal. 

The company has recommended a dividend of Rs 7 per share (70 percent) for the fiscal 2019-20 as compared to a dividend of Rs 6 per share (60%). 

The good financial of the company were due to lower raw material cost and higher sales realization. 

The production of D I pipes for the 2019-20 fiscal was 2,93,491 tonnes and the sales was 2,85,848 tonnes.

Despite the lockdown and suspension of production from 24 March 2020, the company achieved nearly 100 percent of its rated capacity of D I Pipes. 

The company has lost more than a month’s production because of the suspension of operations due to lockdown but the production has again started from first week of May, 2020. But due to absenteeism by staff, normal production is impacted, the company said in a statement. 

 

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