Compuage Infocom reports total income of Rs. 561 Crores in Q1FY21, impacted by COVID-19 lockdown

Compuage Infocom Limited announced its un-audited Standalone and Consolidated results for the quarter ended 30th June 2020.

- Consolidated Total Income at Rs. 561.0 Crores
- Consolidated Gross Profit at Rs. 29.3 Crores, Gross Margins expands by 80 bps YoY
- Consolidated EBITDA at Rs. 13.4 Crores, EBITDA Margins expands by 20 bps YoY

Commenting on the performance, Mr. Atul Mehta, Chairman & Managing Director, said, "Q1FY21 was one of the most challenging quarter for the company till date. Business operations were impacted as significant part of the quarter went under the COVID-19 induced lockdown. However, the silver lining was that once the lockdown started easing, there was a new set of demand for IT products emerging from corporates working from home. In spite of the lockdown, we still managed to sign a distribution partnership with Zhejiang Dahua Technology Co. Ltd., the world-leading video-centric smart IoT solution and service provider for its entire distribution range of CCTV surveillance and video management solution products in four major states of India including Maharashtra, Karnataka, Andhra Pradesh and Telangana.

Our Total Income for Q1FY21 stood at Rs. 561 Crores, impacted by the lockdown, however our Gross margins & EBITDA margins expanded by 80 bps and 20 bps YoY respectively on the back of our continuous focus on better product mix and cost optimization efforts. We believe we have passed through the toughest phase during Q1 and we expect business to improve going forward.

We believe that, though COVID-19 has disrupted businesses throughout the world, it has with it brought a new digital revolution in terms of how people work, communicate and co-ordinate with each other. We are confident that post pandemic world will lead companies to invest extensively in IT devices that enable smooth work from home operations, cloud services & cyber security services. Our company is present and established in all these value-added segments, with Pan - India distribution reach, strong brand portfolio and efficient supply chain and thus are well placed to capture these new busines opportunities and increase our market share".

Shares of COMPUAGE INFOCOM LTD. was last trading in BSE at Rs.12.67 as compared to the previous close of Rs. 12.97. The total number of shares traded during the day was 25070 in over 75 trades.

The stock hit an intraday high of Rs. 13.5 and intraday low of 12.58. The net turnover during the day was Rs. 322643.

Source : Equity Bulls

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