Companies

Covid impact: Cera Sanitaryware standalone Q1 profit plunges to ₹3 crore

Our Bureau Ahmedabad | Updated on August 05, 2020 Published on August 05, 2020

Cera Sanitaryware Limited posted sharp 84 per cent decline in the standalone net profit for the first quarter ended June 2020 at ₹3 crore, from ₹19 crore it registered in the corresponding quarter a year ago.

Revenues from operations also took a beating with a 46-per cent dip at ₹143 crore for the quarter as against ₹267 crore in the corresponding quarter last year.

Cera noted that the company's operations and financial results for the quarter have been adversely impacted by the lockdown imposed to contain the spread of Covid-19.

“The operations gradually resumed with requisite precautions during the quarter with limited availability of workforce and disrupted supply chain. The results for the quarter are therefore not comparable with those for the previous quarter,” the company said.

On June 4, the company had stated that it had suspended operations from March 25 to May 5 and that its own stores and those of its dealers and distributors remained shut in the nationwide lockdown. There were also troubles in the inter-state and intra-state logistics and transportation of the products.

On the consolidated basis, company posted net loss of ₹1.78 crore for the quarter under review on the revenues from operations at ₹146 crore.

Cera had posted consolidated net profit of ₹172 crore for the comparable quarter last year on revenues from operations at ₹271 crore.

Company’s shares ended at ₹2,142 with a loss of over 3 per cent from previous closing on BSE on Wednesday.

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Published on August 05, 2020
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