Dollar Industries’ reports 58 per cent increase in Q4 net profit
The fourth quarter net profit of Dollar Industries increased by 58 per cent t to Rs 19 crore ($2.7 million) as against a net profit of Rs 12 crore it had reported in the year-ago period. The company’s revenues during the quarter grew 29 per cent to Rs 308 crore, as against Rs 237 crore it reported in the corresponding period of the previous year.
For the financial year 2020-21, the company reported a net profit of Rs 87 crore on a revenue of Rs 1,040 crore. Vinod Kumar Gupta, Managing Director says, the year has been overshadowed by the Coronavirus where the economy is hit but the company reported positive revenue growth. Raw-material prices stabilized a bit in the fourth quarter before showing uncertainty in prices again. However, the company is poised to continue its growth journey.
During the financial year, Dollar Industries also revamped its brand identity by launching a new logo and campaign, ‘Wear the change’ to cater to widen its customer base in the country.
