Kamdhenu Q4 results: PAT falls 60% to Rs 2 crore on lower income

New Delhi: Kamdhenu Group on Monday posted a 60 per cent decline in its standalone profit after tax (PAT) at Rs 2.32 crore due to lower income.

The company had posted a PAT of Rs 5.88 crore during the year-ago quarter, Kamdhenu said in a BSE filing.

Its total Income during the said quarter fell to Rs 246 crore from Rs 269 crore in the year-ago period.

During January-March quarter, the company's expenses were at Rs 242 crore as against Rs 249 crore during same period of the preceding fiscal.

The company said it had to shut down its operations at various units across the country due to COVID-19 outbreak. "However, after the unlocking phase started in India from the 1st week of June, we have resumed effective operation of more than 60 per cent at our steel TMT bars manufacturing units till now," Kamdhenu Group CMD Satish Kumar Agarwal said.

With receiving of new orders, the supplies have also started since May 2020, he said. Kamdhenu is adhering to all safety precautions at all offices and manufacturing units in terms of social distancing, sanitization, wearing of hand gloves and thermal temperature checking of all employees at factories and offices, he said. The Gurugram-based Kamdhenu Group has a presence in the steel and paints segment.

Shares of the company closed 4.09 per cent lower at Rs 73.95 per unit on the BSE.