Clariant Chemicals’ Q2 performance shows robust recovery

Clariant Chemicals (India) reported profit before exceptional item and tax of Rs 12.2 crore for the quarter ended 30 September, as compared to Rs 4.1 crore for the quarter ended 30 June 2020 – witnessing a 198% increase.

21 Nov 2020 | By WhatPackaging? Team

Ahmad: We look forward to continue this growth in the months ahead

Adnan Ahmad, vice chairman and managing director, Clariant Chemicals (India), said, “After a strong performance in the previous fiscal year, the Covid pandemic impacted our sales in Q1 2020. However, the latest quarter has already seen a good recovery with a 40% higher sales growth at Rs 180.8 crore, over the preceding quarter and a 198% increase in profits at Rs. 12.2 crore.”

According to the report, the company’s sales rose by 40% at Rs. 180.8 crore in the September quarter as against Rs 128.9 crore in the previous quarter. The sales declined by 5%, at Rs 180.8 crore for the September quarter as against Rs 189.7 crore for the corresponding quarter in the previous year. The company reported sales of Rs. 309.8 crore in the first half of 2020, as against Rs 399.5 crore for the corresponding half of the previous year.

For half-year ended September 2020, the profit before exceptional item and tax stood at Rs. 16.3 crore as compared to Rs. 26.8 crore for the half-year ended September 2019 – a decline of 39%.

“We look forward to continued growth in the months ahead. Our top priority continues to be the safety and well-being of our employees and customers,” he added.