VRL Logistics slips after weak Q4 earnings

VRL Logistics fell 1.81% to Rs 154.40 after the company's net profit slumped 89.6% to Rs 2.14 crore on 2.9% decline in net sales to Rs 497.83 crore in Q4 FY20 over Q4 FY19.

Profit before tax (PBT) in Q4 March 2020 stood at Rs 3.27 crore, down by 90% from Rs 32.64 crore in Q4 March 2019. Current tax expenses declined 99.3% to Rs 0.08 crore in the fourth quarter compared with the same period last year.

EBITDA fell 4.5% to Rs 59.06 crore in Q4 FY20 from Rs 61.87 crore in Q4 FY19. EBITDA margin stood at 11.81% in Q4 March 2020 as against 12.02% in Q4 March 2019.

With respect to the impact of COVID-19 on its business, the company said: "Given the uncertainties associated with the nature and duration of this pandemic, the actuals may differ from the estimates considered in these financial results and the Company will continue to closely monitor any material changes to future economic conditions and respond accordingly."

VRL Logistics provides goods and passenger transportation services.

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