Home Business News Granules India warns of guidance after Q2 net collapse

Granules India warns of guidance after Q2 net collapse

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Businesses within the quarter were affected by the crisis over purchasing power, mainly from China

A Granules India manufacturer on Friday warned that instability and uncertainty over processed foods and prices could undermine its economic direction.

“Because of the chaos and instability of the environment, we believe we will not be able to follow our own guidelines. It would not be wise for us to give direction until things get better, “said Chairman and Managing Director Krishna Prasad Chigurupati in a statement issued in the September quarter.

The interest rate included in this session has been 51% down to ₹ 81 crore from ₹ 164 crore from the previous year. The decline in profits came as labor costs rose 4% to ₹ 888 crore (₹ 858 crore).

Businesses within the quarter were affected by the crisis over purchasing power, mainly from China. Rising prices for almost all items due to the disruption and rising prices of goods due to the shortage of ships and the disruption of ports in various parts of the world were among the things, the company said.

Total revenue has dropped to 50.9% (57.9%). The decline was due to lower levels of all major components, especially Paracetamol as commodity prices and commodity prices soared. The decline in prices in the USA has also led to a gradual decline in the value of major commodities.

Mr Chigurupati said the company had taken steps to reduce the supply of supplies and hoped the work would have a positive effect in the future. “All our activities and plans are going well, and I have every confidence that the money available now will not affect our long-term growth path and aspirations,” he said.



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