Thursday, Mar 28 2024 | Time 23:50 Hrs(IST)
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Business Economy


Kaveri Seeds sales up by 14.86 pc in FY-20

Hyderabad, May 31 (UNI) The Board of Directors of Kaveri Seeds Company Limited approved the financial results for the quarter ended May 31, 2020 at its meeting held in Secunderabad on Saturday.

The company net sales for FY20 stood at Rs 883.256 crores, compared to 768.989 crores for FY 19 up 14.86 per cent year on year, a company statement here said on Sunday.

Profit After Tax (PAT) at Rs 251.267 crores for FY20 compared to 214.729 crores for FY 19 and a growth of 17.02 per cent year on year.

The company delivered strong operational performance. Operating EBITDA margins (excluding other income) at 27.12 per cent.

The company also successfully completed a Buy Back of upto 28 lac shares of Face Value of Rs. 2 at a price of Rs. 700.

COVID19 has not had a negative impact on the company since the company is in the agri sector and in essential services. There was a minor challenge in supply chain and labor which was also sorted out with the Government’s support to ensure uninterrupted supply of essential commodities .

The company has posted net profit of Rs 9.35 crores for the quarter ended March 31, 2020 as against (loss) of Rs 11.44 crores for the corresponding quarter ended March 31, 2019, the statement added.
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