Net profit of Usha Martin declined 99.19% to Rs 0.39 crore in the quarter ended March 2020 as against Rs 47.89 crore during the previous quarter ended March 2019. Sales declined 17.95% to Rs 514.72 crore in the quarter ended March 2020 as against Rs 627.32 crore during the previous quarter ended March 2019.

For the full year,net profit rose 772.95% to Rs 418.84 crore in the year ended March 2020 as against Rs 47.98 crore during the previous year ended March 2019. Sales declined 13.44% to Rs 2153.82 crore in the year ended March 2020 as against Rs 2488.25 crore during the previous year ended March 2019.

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Net loss of Usha Martin reported to Rs 2.68 crore in the quarter ended March 2020 as against net profit of Rs 56.73 crore during the previous quarter ended March 2019. Sales declined 29.39% to Rs 306.44 crore in the quarter ended March 2020 as against Rs 434.00 crore during the previous quarter ended March 2019.

For the full year,net profit rose 570.17% to Rs 395.40 crore in the year ended March 2020 as against Rs 59.00 crore during the previous year ended March 2019. Sales declined 18.47% to Rs 1392.62 crore in the year ended March 2020 as against Rs 1708.03 crore during the previous year ended March 2019.

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Usha Martin will hold a meeting of the Board of Directors of the Company on 30 May 2020.

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Usha Martin has resumed partial operations at its manufacturing facility located at Hoshiarpur in the State of Punjab engaging minimumlabour / manpower and after obtaining requisite permission from Government authorities.

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