Gravita India Limited’s sales volume increased by 34% in Aluminium division in Q4 FY 2020
Gravita India Limited announced consolidated results for the full year and Q4 2020. In Q4 2020, sales volume increased by 34% in Aluminium division. Consolidated revenues increased by 44% Y-o-Y to lNR 379.26 Cr.
Net profit rose to stand at INR 12.6 I Cr against loss of INR 0.58 Cr last quarter due to efficient working of manufacturing facilities based in Africa.
Mr. Rajat Agrawal, Managing Director, Gravita India Limited said, "During FY 2020 the company has been able to achieve excellent figures due to process optimization and focused approach towards product & market mix. Futther the newly established Lead & Aluminium recycling faci lity in Tanzania performed rationally well. We expect the momentum of the growth to be continued in the comin g quarters."
For the full year, consolidated revenue increased by 9% to INR 1347.80 Cr. Profit after tax stood at INR 33.18 Cr, a growth of 114%. “Operational efficiency, product - market mix and capacity optimization led to improved profit margins.”
During the year, the company started Lead & Aluminium recycling facilities in Tanzania.
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