Revenue for the quarter declined 15.6% YoY to Rs 207.2 crore (publication: 10% to Rs 55.9 crore, stationery: 17.5% to Rs 151.0 crore). According to the management, due to lockdown company, lost revenues worth Rs 54 crore (publication: Rs 10 crore, stationery: Rs 44 crore). Gross margins improved substantially by 950 bps YoY to 61.6% owing to benefits of a decline in paper prices (600 bps) and favourable product mix for stationery exports.
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