Hind Aluminium Industries reported an 84.78pc decline in its sales to Rs206.7mn ($2.82mn) in June 2020 quarter, from Rs1.36bn ($18.28mn) in the prior-year period.
The company stated that the pandemic led to a steep drop in sales in Q1 FY2021 amid the absence of demand from a majority of company customers. Hind Aluminium claimed that its sales would have been significantly higher for the quarter had it not been for the COVID-19 pandemic.
The company, manufacturing aluminium conductors used for power transmission and distribution has its presence in Dadra and Nagar Haveli, Silvassa. It has the capacity to manufacture wire rods and flipped aluminium coils.
Hind Aluminium’s net loss rose to Rs28.6mn ($.39mn) in the June quarter from Rs8.4mn($0.11mn) in the prior-year period.