Godrej Agrovet This autumn outcomes: Web revenue falls over 42% to Rs 69.20 crore

New Delhi: Godrej Agrovet Ltd (GAVL) on Monday reported a 42.65 per cent decline in consolidated web revenue at Rs 69.20 crore in the course of the fourth quarter ended March 31 resulting from increased bills.

The corporate’s web revenue stood at Rs 120.68 crore within the year-ago interval, it stated in a regulatory submitting.

Its revenue rose to Rs 1,627.68 crore throughout January-March quarter from Rs 1,390.91 crore within the year-ago quarter.

Complete bills additionally rose to Rs 1,548.05 crore as in opposition to Rs 1,349.17 crore a 12 months in the past.

For fiscal 2019-20, the corporate’s consolidated web revenue declined to Rs 300.58 crore as in opposition to Rs 349.33 crore within the earlier 12 months.

Complete revenue elevated to Rs 6,964.04 crore in FY20 from Rs 5,917.73 crore a 12 months in the past.

Bills additionally shot as much as Rs 6,665.25 crore in the course of the 12 months from Rs 5,593.95 crore in 2018-19.

The corporate stated its efficiency had began displaying good restoration to start with of the fourth quarter, however false rumours of coronavirus an infection by means of poultry in starting of February 2020 considerably impacted quantity, costs and thereby the profitability of two companies — animal feed and Godrej Tyson.

Additional, the outbreak of COVID-19 in mid-March 2020 in India affected gross sales in different segments additionally. This adversely impacted the efficiency of the fourth quarter, it stated.

Nevertheless, on the optimistic facet, efficiency in Astec, oil palm plantation and aqua feed was sturdy which supported the quarterly efficiency, it added.

The corporate, whose companies are a part of important commodities, stated it resumed operations in April 2020 after acquiring essential approvals from native authorities.

The factories are at present operational and have deployed well being and security protocols throughout all places.

The corporate stated it’s well-equipped to handle the present scenario primarily based on the sturdy enterprise continuity plan put in place.

“The demand for our merchandise stays agency and our groups are relentlessly working in the direction of offering uninterrupted provide of our important merchandise (feed, agrochemicals, dairy merchandise, and poultry and processed meals merchandise) for animal husbandry, crop safety and family consumption,” it added.

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