Sreeleathers expects adverse impact on profitability due to lockdown; stock trades flat

All operations of the company came to a standstill for a temporary period due to the lockdown in the last week of March.

Jun 08, 2020 12:06 IST India Infoline News Service

Sreeleathers Limited’s profitability during the current quarter is likely to be adversely affected due to the lockdown.

The company in its filing for exchanges revealed on Saturday that there will be short term working capital crunch due to lockdown. However, the company is confident to manage the same in coming period.

All operations of the company came to a standstill for a temporary period due to the lockdown in last week of March and other measures induced by the government to control the Covid-19 pandemic.

The company has partially resumed its operations from May 23, 2020 with minimum staff as per the guidelines of the government.

Sreeleathers Ltd is currently trading flat at Rs145 from its previous closing of Rs145 on the BSE.

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