Covid-19 impacts on Global Vectra Helicorp Q1FY21 revenue

GVHL sustained operations at its offshore support bases round the clock to ensure uninterrupted supply of services to the oil and gas sector.

Sep 21, 2020 10:09 IST India Infoline News Service

Global Vectra Helicorp Limited (GVHL) informed the exchanges Friday that in view of prevailing Covid-19 situation generally impacting all industries the company's revenue for first quarter of FY21 has been impacted.

“As the business environment and nature of Covid-19 problem is very dynamic, at this juncture it is difficult to predict impact of Covid-19 on full year operations and the company is closely monitoring the situation,” the company said. 

Government of India declared a national lockdown on March 24, 2020. GVHL said it had started taking precautions against the impact and spread of the virus. The company took pro-active steps to handle the emerging situation.

“The focus was on ensuring critical supplies necessary for continued supporting to oil and gas sector without compromising the health and safety aspect. With the courage and commitment of GVHLians, operations have gone on uninterrupted to supporting the oil and gas sector,” company said.

GVHL sustained operations at its offshore support bases round the clock to ensure uninterrupted supply of services to the oil and gas sector. Continuing its essential operations, the company has additionally ensured compliance to the Government of India and the World Health Organization (WHO) guidelines like maintaining social-distancing, PPE usage, personal hygiene, etc. Ensuring continuous working in operational areas.

With the imposition of the lockdowns religious tourism operations were hampered in activity levels but the recommencement process for normal activity has started from August.

Global Vectra Helicorp Ltd is currently trading at Rs53.70, down by Rs0.25 or 0.46% from its previous closing of Rs53.95 on the BSE.

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