Net loss of Pradeep Metals reported to Rs 0.55 crore in the quarter ended March 2020 as against net profit of Rs 2.58 crore during the previous quarter ended March 2019. Sales declined 18.04% to Rs 42.84 crore in the quarter ended March 2020 as against Rs 52.27 crore during the previous quarter ended March 2019.

For the full year,net profit declined 17.99% to Rs 7.66 crore in the year ended March 2020 as against Rs 9.34 crore during the previous year ended March 2019. Sales rose 1.97% to Rs 195.23 crore in the year ended March 2020 as against Rs 191.45 crore during the previous year ended March 2019.

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Net profit of Pradeep Metals declined 70.45% to Rs 0.86 crore in the quarter ended March 2020 as against Rs 2.91 crore during the previous quarter ended March 2019. Sales declined 17.34% to Rs 38.05 crore in the quarter ended March 2020 as against Rs 46.03 crore during the previous quarter ended March 2019.

For the full year,net profit rose 7.87% to Rs 12.88 crore in the year ended March 2020 as against Rs 11.94 crore during the previous year ended March 2019. Sales rose 0.66% to Rs 175.96 crore in the year ended March 2020 as against Rs 174.80 crore during the previous year ended March 2019.

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Pradeep Metals will hold a meeting of the Board of Directors of the Company on 29 June 2020.

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Pradeep Metals announced that the Board of Directors of the Company at its meeting held on 29 February 2020, has recommended a Interim dividend of Rs.1 per share (i.e.10%), subject to the approval of the shareholders.

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