Indo Rama Synthetics India Ltd reports financial results for Q4, FY2020

Indo Rama Synthetics (India) Limited, India's one of the major dedicated polyester manufacturer, today announced its audited results for the quarter and financial year ended March 31, 2020.

For the quarter ended March 31, 2020, the Company's net revenue stood at Rs.480.64 crore as against Rs.437.43 crore of Q4 of the previous year. The Operational EBIDTA for the period stood at Rs.(7.14) crore as compared to Rs.(85.81) crore in the corresponding quarter in the previous year. The net loss for the quarter ended March 31, 2020 is Rs.49.84 crore as compare to Rs.169.33 crore in the corresponding quarter in the previous year.

For the financial year ended March 31, 2020 the net revenue stood at Rs.2,127.94 crore as compared to Rs.1,699.37 crore in the previous year. The Operational EBIDTA is Rs.0.66 crore as compared to Rs. (88.58) crore in the last fiscal year. The net loss of the Company is Rs. 316.10 crore for the current financial year as against Net Loss of Rs. 271.06 crore during the last financial year. The loss is higher due to reversal of non-cash item of deferred tax taken in earlier years.

Shares of INDO RAMA SYNTHETICS (INDIA) LTD. was last trading in BSE at Rs.18.98 as compared to the previous close of Rs. 18.18. The total number of shares traded during the day was 43696 in over 360 trades.

The stock hit an intraday high of Rs. 19.99 and intraday low of 18.25. The net turnover during the day was Rs. 843005.

Source : Equity Bulls

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