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Indo Count posts revenue of ₹2,080 cr in FY20

Jun '20
Pic: Indo Count
Pic: Indo Count
Indo Count, India-based end-to-end bedding provider, has announced increase in its revenue to ₹2,080.1 crore in fiscal 2020 ended on March 31, 2020 compared to the revenue of ₹1,934.2 crore in previous fiscal. Net profit for the year grew to ₹73.1 crore (FY19: ₹59.8 crore). Profit before tax (PBT) in FY20 declined to ₹56.6 crore (FY19: ₹95.3 crore).
Company also reported its fourth quarter (Q4) FY20 revenue which dropped to ₹400.5 crore (Q4 FY19: ₹437.1 crore). Net profit during the quarter were ₹8.2 crore compared to net loss of ₹4.5 crore in same period prior year.
Total comprehensive income attributable to the owners during FY20 was down marginally to ₹25.2 crore (FY19: ₹27.6 crore).
Stating the impacts of Covid-19 during the quarter, company said that its manufacturing operations were temporarily shut down from March 23, 2020 and after a period of 30 days, restarted partially from April 26, 2020 subject to conditions laid down by the state government. Due to temporary stoppage of operations, orders valued $11.0 million could not be executed in Q4 FY20 and stands postponed to FY 21, as company said in a press release.

Fibre2Fashion News Desk (JL)

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June 2021

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