Clariant Chemicals India 39% sales decline in Q1

Clariant Chemicals India, a specialty chemical company, has recently announced its first-quarter financial results for the quarter ended 30 June 2020. The company reported profit before tax of Rs 4.1 crore (approximately US $ 0.55 million) for the quarter ended June 2020, as compared to profit before tax of Rs 10.5 (US $ 1.40 million) for the quarter ended June 2019 – witnessing a drop of 61% caused by the impact of Covid-19 outbreak and subsequent continued nationwide lockdown. The company reported a decline in sales of 39%, at Rs 128.9 crore (approximately US $ 17.23 million), for the quarter ended June 2020 as against Rs 209.8 crore (approximately US $ 28 million) for the corresponding quarter in the previous year. “We closed our offices and laboratories across the country on 16 March, well before the national lockdown, as we wanted to be abundantly cautious with managing the Covid-19 risk at the workplace. Subsequently, we closed our plants as well. However, we started manufacturing gradually to bolster the essential services sectors to support the country…

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