 "Covid-19 impact: Berger Paints India Q1 net profit down 91% to Rs 15 cr")
Berger Paints India Ltd on Friday reported a 91.44 per cent decline in consolidated net profit to Rs 15.09 crore for the quarter ended June, hit by the COVID-19 crisis.
The company had posted a net profit of Rs 176.41 crore during the April-June period of the preceding fiscal,Berger Paints India said in a regulatory filing.
Revenue from operations dropped 45.77 per cent to Rs 930.76 crore during the quarter under review, as against Rs 1,716.53 crore earlier.
Total expenses stood at Rs 901.42 crore, down 38.57 per cent from Rs 1,467.48 crore in Q1 FY20.
"The Group's business operations during the current quarter was impacted due to COVID-19 pandemic and consequent lockdowns," it said.
It has taken into account the possible impact of COVID-19 in preparation of the financial results, including assessment of the recoverability of its assets.
"The Group will continue to monitor any material changes to future economic conditions," it added.
Shares of Berger Paints India Ltd settled at Rs 550 on BSE, down 0.20 per cent.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app