ALSO READClariant Chemicals (India) provides update on holding company - Clariant Clariant Chemicals (India) fixes record date for final dividend Clariant Chemicals (India) standalone net profit declines 26.23% in the March 2017 quarter Clariant Chemicals (India) to pay final dividend Clariant Chemicals (India) reports standalone net loss of Rs 1.41 crore in the June 2017 quarter
Clariant Chemicals (India) Ltd today posted a net loss of Rs 1.41 crore in the first quarter of the current fiscal due to impact of GST transition and high raw material and other costs. The company had clocked a net profit of Rs 14.06 crore in the same quarter last year, the company said in a BSE filing. "The quarterly performance saw an impact due to the goods and services tax (GST) transition, rising raw material costs, along with one time exceptional costs," the Mumbai-based company said. Total income fell marginally to Rs 280.38 crore in the April-June period of the 2017-18 fiscal from Rs 283.01 crore in year-ago. Expenses remained high at Rs 282.65 crore as against Rs 262.17 crore in the said period. The company's scrip fell by 2.58 per cent to settle at Rs 574.70 a piece on the BSE today.