Greenlam Industries reports 32.5% decline in Q2 net profit to Rs 18.54 cr

Greenlam Industries Ltd on Monday reported a 32.58 per cent decline in its consolidated net profit to Rs 18.54 crore for the second quarter ended on September, 2020.
 

The company had reported a net profit of Rs 27.50 crore in the July-September quarter a year ago, Greenlam Industries Ltd said in a BSE filing.
 

Its revenue from operations during the quarter under review was at Rs 289.31 crore, down 17.10 per cent as against Rs 348.99 crore in the corresponding quarter.
 

Commenting on the results, Greenlam Industries MD & CEO Saurabh Mittal said, "This quarter observed improvement in sales on sequential basis as the markets opened up with the unlocking of economy".
 

Greenlam Industries total expenses were at Rs 267.48 crore.
 

Shares of Greenlam Industries Ltd settled at Rs 755.40 on BSE, down 1.77 per cent from the previous close.