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Dollar Industries FY20: sales ₹969 cr; PAT ₹60 cr
04 Jul 20 1 min read
Dollar Industries Limited, India-based leading hosiery and garment manufacturing company, has reported 5.78 per cent sales decline to ₹969.32 crore in fiscal year 2020 that ended on March 31, 2020 compared to sales of ₹1,028.76 crore in previous year. Profit after tax (PAT) for FY20 fell 21 per cent to ₹59.45 crore over the previous year.
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EBITDA (earnings before interest, tax, depreciation and amortisation) for the year dropped 20.73 per cent to ₹109.29 crore.
Company’s revenue for the fourth quarter (Q4) FY20 were down 20.19 per cent to ₹237.66 crore. PAT for the quarter slipped 40.96 per cent to ₹13.32 crore.
“The pandemic outbreak of Corona virus has been disruptive in Q4 itself. Being the last month of the fiscal most of the supplies are made to the distributor in the last week which could not happen. We are witnessing a change in consumer buying pattern as they prefer to shop online,” Vinod Gupta, managing director, Dollar Industries Limited said in a press release.
Also the work from home culture has led to increase in demand of athleisure. We are experiencing spike in demand and are hopeful that the Industry will soon bounce back.
Fibre2Fashion News Desk (JL)
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