Cosmo Films Q4 results: Net profit down 24% at Rs 21 crore

New Delhi: Cosmo Films on Thursday reported a 24.37 per cent decline in consolidated net profit at Rs 20.85 crore for the fourth quarter ended March 2020.

The company had posted a consolidated net profit of Rs 27.57 crore in January-March quarter a year ago, Cosmo Films said in a BSE filing.

Revenue from operations fell 4.67 per cent to Rs 524.11 crore during the quarter under review as against Rs 549.84 crore in the corresponding quarter of the previous fiscal.

Cosmo Films' total expenses in March quarter declined 5.23 per cent to Rs 493.63 crore as against Rs 520.88 crore a year ago.

However, for the fiscal year 2019-20, the company's net profit rose 85.63 per cent to Rs 113.44 crore. It stood at Rs 61.11 crore in 2018-19.

Its revenue from operations in FY20 increased 2.17 per cent to Rs 2,203.53 crore as against Rs 2,156.52 crore in 2018-19.

Commenting on the outlook Cosmo Films CEO Pankaj Poddar said, "Flexible packaging demand should increase post-COVID-19 with increasing shift in consumer preference towards packaged products, particularly in food, and increased concerns of cleanliness and hygiene. This should augur well for the company."

Shares of Cosmo Films Ltd on Thursday settled 1.78 per cent lower at Rs 295.65 on the BSE.