Aditya Birla Money's Q4 PAT drops 14% yoy to Rs2.80cr; sales rise

The company has presented its financial performance for the fourth quarter and year-ended March 2020.

Apr 30, 2020 03:04 IST India Infoline News Service

Financial service provider Aditya Birla Money witnessed a decline in its bottom-line front, however, posted growth in regards to top-line. The company has presented its financial performance for the fourth quarter and year-ended March 2020.

Standalone net profit stood at Rs2.80cr in Q4, registering a drop of 13.85% compared to Rs3.25 record in the corresponding period of the previous year.

Although single-digit, but the company's sales increased by 5.67% to Rs44.54cr in Q1 versus Rs42.15cr a year ago same period.

For fiscal FY20, overall net profit rose by 20.02% yoy to Rs11.99cr, on the contrary, sales declined gradually by 0.83% yoy to Rs166.66cr.

As of March 2020, cash and equivalents rose to Rs37.64cr compared to Rs5.95cr in FY19.

In its financial audit report, Aditya Birla Money stated that the management has, at the time of approving the financial statements, assessed the potential impact of the COVID-19 on the Company. Barring any future COVID 19 related escalations, based on the current assessment, the management is of the view that impact of COVID 19 on the operations of the Company and the carrying value of its assets and liabilities are not likely to be material.

On Sensex, the share price was trading at Rs27.05 per piece up by 0.93% at around 3.08 pm.

The stock has clocked an intraday high and low of Rs29.20 per piece and Rs26.65 per piece respectively. 

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