Rain Inds says US unit takes protective measures to tackle coronavirus

Rain Industries said its US-based subsidiary, Rain Carbon Inc., is implementing broad range of proactive measures to safeguard employees and operations from the virus outbreak.

Rain Carbon Inc., a leading global producer of carbon-based products, is proactively implementing a number of measures to protect its employees, communities and operations so the supply and movement of materials as well as the services that customers, suppliers and other stakeholders depend on from the company are not impacted by the coronavirus (COVID-19) global pandemic.

"Beyond basic actions like encouraging employees to intensify their personal hygiene practices and instituting significant travel restrictions, we have taken and will be taking a number of steps to ensure business continuity during this challenging and unpredictable period," said Rain Carbon President Gerry Sweeney.

"We will continue to provide updates on our efforts to safeguard our people and operations from coronavirus," Sweeney said. "At Rain Carbon, health and safety is our number-one priority, and by implementing these proactive measures, we are working diligently to ensure that our business partners have an uninterrupted flow of materials from Rain Carbon facilities that are critical to their success.

Shares of Rain Industries rose 0.99% to end at Rs 71.60 on Friday, 13 March 2020.

On a consolidated basis, Rain Industries reported net profit of Rs 114.76 crore in Q3 December 2019 compared with net loss of Rs 139.13 crore in Q3 December 2018. Net sales declined 17.8% to Rs 2,830.42 crore in Q3 December 2019 over Q3 December 2018.

Rain Industries is engaged in the business of manufacture and sale of carbon products, chemicals and cement. The company operates through three segments: carbon products, chemicals and cement.

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