Comments
Visaka Industries Limited has posted a jump in profit at ₹23.04 crore for the third quarter ended December 31, 2020 over ₹6.14 crore it registered for the corresponding quarter last year.
The company’s revenue from operations for the quarter was at ₹282.87 crore (₹242.87 crore), up 16 per cent as compared to the corresponding quarter of 2019. Total revenue for nine months ended December 31, 2020 was lower at ₹798.22 crore (₹827.63 crore).
Net profit for the nine months was at ₹79.76 crore as against ₹42.43 crore for the corresponding nine months in 2019, an increase of 88 per cent.
The building products business segment led the company’s strong quarterly performance.
G Vamsikrishna, Joint Managing Director, Visaka Industries, said, “the company has overcome the challenges posed by Covid 19 pandemic. The good performance is possible due to strong rural markets, gradual opening of urban market and ease of supply chains. Digital marketing initiatives of the company have also shown a positive impact.”
The board of directors of the company has approved to pay an first interim dividend of 50 per cent at ₹5 /per share on equity of share of ₹10 each fully paid-up.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.