Net profit of Foseco India declined 29.55% to Rs 6.08 crore in the quarter ended March 2020 as against Rs 8.63 crore during the previous quarter ended March 2019. Sales declined 14.35% to Rs 72.08 crore in the quarter ended March 2020 as against Rs 84.16 crore during the previous quarter ended March 2019.

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Foseco India will hold a meeting of the Board of Directors of the Company on 27 May 2020.

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Foseco India announced its manufacturing unit located at Pune has resumed operations partially from 5 May 2020, with limited number of staff / workers.

The District Collector cum District Magistrate at Puducherry has on 29 April 2020 granted permission to the Company to start production at its Puducherry unit with limited number of staff / workers. Accordingly,the Puducherry unit has resumed operations partially.

Both the manufacturing units are strictly following the guidelines issued from time to time by theGovernment of India and the respective State and local governments in this regard including adherenceto all safety precautions. Rest of the employees at both the units continue to follow 'Work from Home'policy until further directions.

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Net profit of Foseco India declined 8.55% to Rs 6.42 crore in the quarter ended December 2019 as against Rs 7.02 crore during the previous quarter ended December 2018. Sales declined 17.77% to Rs 73.32 crore in the quarter ended December 2019 as against Rs 89.16 crore during the previous quarter ended December 2018.

For the full year,net profit rose 7.77% to Rs 34.53 crore in the year ended December 2019 as against Rs 32.04 crore during the previous year ended December 2018. Sales declined 10.95% to Rs 322.52 crore in the year ended December 2019 as against Rs 362.16 crore during the previous year ended December 2018.

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