Prince Pipes and Fittings Ltd Q1FY21 PAT at Rs. 11.25 crore


Prince Pipes and Fittings Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY2020-21) – QoQ Comparison

The company has reported total income of Rs.307.68 crores during the period ended June 30, 2020 as compared to Rs.435.92 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.11.25 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.28.27 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.1.02 for the period ended June 30, 2020 as compared to Rs.2.96 for the period ended March 31, 2020.

Total Income ₹ 307.68 crs ₹ 435.92 crs Down Tick -29.42%
Net Profit ₹ 11.25 crs ₹ 28.27 crs Down Tick -60.21%
EPS ₹ 1.02 ₹ 2.96 Down Tick -65.54%

Financial Results (Q1 FY2020-21) – YoY Comparison

The company has reported total income of Rs.307.68 crores during the period ended June 30, 2020 as compared to Rs.380.19 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.11.25 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.26.53 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.1.02 for the period ended June 30, 2020 as compared to Rs.2.95 for the period ended June 30, 2019.

Total Income ₹ 307.68 crs ₹ 380.19 crs Down Tick -19.07%
Net Profit ₹ 11.25 crs ₹ 26.53 crs Down Tick -57.6%
EPS ₹ 1.02 ₹ 2.95 Down Tick -65.42%

Commenting on the results, Mr. Parag Chheda, Executive Director of Prince Pipes and Fittings Limited, said “We were amongst the initial few companies to start dispatches as soon as partial lifting of lockdown was announced from Apr 23, 2020 and consequently were able to liquidate all inventory as on March 31 and gain incremental market share. Our performance is driven by the healthy recovery in production and sales over May and June, while the agricultural segment saw a faster recovery being essential goods, followed by the plumbing portfolio which showed encouraging traction in semi urban and rural markets. Our collections and receivables were accomplished well in time and allowed us to ensure timely vendor payments. As we progress into the new fiscal, we will continue to focus on the quality of balance sheet and work towards strengthening it.

As the country continues to grapple with the pandemic while simultaneously unlocking economic activities, positive signals of industrial activities seem to be visible. Prince Pipes will continue taking judicious measures towards business continuity, as we work hard to ensure no retrenchments and salary cuts, operate with plant and premise sanitization measures in line with government directives and implement all employee and staff welfare initiatives. All our efforts are being directed towards our endeavors to mitigate risks and focus on creating shareholder value over the medium to long term.”



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