Q2 FY2021 Results: Indian Acrylics posts loss of Rs 4.30 crore, income falls 35% Y-o-Y

The company reported a total income of Rs.135.61 crores during the period ended September 30, 2020, a fall of 35% Y-o-Y as compared to Rs.207.50 crores during the period ended September 30, 2019.

Indian Acrylics Ltd. on Friday released its quarter earnings of FY2021. The company reported a total income of Rs.135.61 crores during the period ended September 30, 2020, a fall of 35% Y-o-Y as compared to Rs.207.50 crores during the period ended September 30, 2019.

Indian Acrylics Ltd is the largest acrylic fiber manufacturer of India and an important player in the global industry with exports to Asia, Europe and the Middle East. Its dry spun acrylic fiber quality is popular due to its unique dog bone shaped cross section.

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The Punjab based company posted a consolidated net loss of Rs. 4.30 crore for the Q2 FY21 period, against net loss of Rs. 4.20 crore for the period ended September 30, 2019. It has posted a loss of Rs 22.05 crore in the previous quarter.

The company has reported a negative Earnings per Share (EPS) of Rs. 0.32 for the September period ended as compared to negative Rs. 0.31 for the same period last year. It recorded negative Rs. 1.63 for the Q1 FY2021 period.