Innodis: Cost containment measures to ‘navigate through difficult period’

During the 6 months ended 31 December 2021, the Innodis group has posted an increase in revenue of 12.6% to Rs2.7billion. However, the group’s financial statements show no corresponding increase in profitability “as trading conditions remained difficult” – it said.

In fact, the group profit fell by Rs20.6million to Rs65.5million.

It has blamed repeated increases of prices of imported ingredients and finished goods and the depreciation of the Rupee.

At the company level, in spite of an increase of 6.4% in turnover, operating profit fell to Rs20.6 million (Dec2020: Rs37.4million).

Innodis said it is implementing several cost containment measures “to navigate through this difficult period until the trading environment starts to improve.”