Indian Toners & Developers net profit declines
July 16, 2020
The company reports their consolidated net profit declines 36.83% in the March 2020 quarter.
Sales decline 29.02% to Rs 20.64 crore (€2.4million/ $2.75million) in the quarter ended March 2020 as against Rs 29.08 crore (€3.4million/ $3.9million) during the previous quarter ended March 2019.
Net profits declined 36.83% to Rs 2.83 crore (€329,000/ $377,000) in the quarter ended March 2020 as against Rs 4.48 crore (€596,000/ $522,600) during the previous quarter ended March 2019.
For the full year, net profit declined 40.44% to Rs 11.87 crore (€1.4million/ $1.6million) in the year ended March 2020 as against Rs 19.93 crore (€2.3million/ $2.7million) during the previous year ended March 2019.
Full year sales declined 19.92% to Rs 90.59 crore (€10.5million/ $12million) in the year ended March 2020 as against Rs 113.13 crore (€13.2million/ $15million) during the previous year ended March 2019.
Indian Toners is the largest toner manufacturer in India, but has been losing market share to imported toners and in February 2020, following a complaint by India’s two main toner manufacturers, Indian Toners and Developers Ltd and Pure Toners and Developers Pvt. Ltd
In the preliminary findings published on 18 June 2020, the Directorate of Trade Remedies, part of the Ministry of Commerce and Industry found that the product under consideration is being dumped into India from subject countries. The margins of dumping from each of the subject countries are more than the de minims limits prescribed under the rules.
The provisional rates for Black Toner in Powder Form are:
China, $834/ €743 per metric tonne
Malaysia, $1,686/ €1,503 per metric tonne
Taiwan, $196/ €175 per metric tonne
The anti-dumping duty is subject to confirmation by the Ministry of Finance.
Categories : City News
Tags : Financials India Indian Toners and Developers Ltd Pure Toners and Developers Pvt. Ltd
