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Skipper hits the roof after Q4 numbers

Business Finance

Capital Market 

Skipper hit an upper circuit of 20% at Rs 47.15 after consolidated net profit jumped 58.4% to Rs 28.12 crore on 1.3% rise in net sales to Rs 438.85 crore in Q4 March 2020 over Q4 March 2019.

The company reported a consolidated pre-tax loss of Rs 1.31 crore in Q4 March 2020 as against pre-tax profit of Rs 22.34 crore in Q4 March 2019. The company received a total tax rebate of Rs 29.43 crore in Q4 March 2020, which aided the net profit. Total tax expense in Q4 March 2019 stood at Rs 4.49 crore.

The company reported a forex loss of Rs 19.45 crore in Q4 March 2020 due to sharp depreciation of rupee, which impacted the profitability. The company stated that this impact is largely notional.

Skipper's order book as on 31 March 2020 stood at Rs 2011 crore, which constituted 30% exports and 70% domestics orders. The company has a strong bidding pipeline of Rs 5150 crore and it expects a substantial rise in the volume of international orders in the current fiscal. The management expects the international business share in order book to rise to 50% in next 2 year.

Skipper is one of the leading companies in the power transmission & distribution and the polymer segment.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, June 23 2020. 11:41 IST