Dollar Industries Limited on Wednesday announced that it saw a 41 per cent decline in its net profit to clock Rs. 13 crore (US $ 1.73 million) for the fourth quarter ended March 2020, as compared to Rs. 23 crore in the corresponding period of last fiscal.
The total revenue for the company for Q4 FY 2020 fell 20 per cent to Rs. 238 crore, as compared to Rs. 299 crore it posted in the last quarter.
Dollar Industries reported Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs. 24 crore in the fourth quarter this year, as against Rs. 35 crore down by 31 per cent.
The company’s net profit fell 21 per cent to Rs. 59 crore for the financial year ended 31 March 2020, as against Rs. 75 crore in the last year.
Revenue from operations for this quarter stood at Rs. 969 crore, as against Rs. 1,029 crore during the previous year.
Commenting on how the COVID-19 pandemic has impacted their business, Vinod Kr. Gupta, Managing Director, Dollar Industries Ltd., shared that the outbreak has been disruptive in the fourth quarter.
“We are witnessing a change in consumer buying pattern, as they prefer to shop online. Also, the ‘work from home’ culture has led to increase in demand of athleisure.” he said.
