COVID-19 limitations influenced sales, made liquidity crunch: Lyka Labs

COVID-19 limitations influenced sales, made liquidity crunch: Lyka Labs


  • Post By : Kumar Jeetendra

  • Source: PTI

  • Date: 05 Jun,2020

Pharmaceutical firm Lyka Labs on Friday said the coronavirus-incited lockdown adversy affected deals, made liquidity crunch and the organization’s presentation keeps on being influenced by COVID-19 limitations.

In an administrative recording uncovering the effect of COVID-19, Lyka Labs said in spite of the fact that the legislature permitted pharma firms to work during the lockdown, nearness of laborers at its Ankleshwar processing plant, in Gujarat, was exceptionally low, accordingly creation has been severely influenced. The plant was running at 40 percent of its ability.

“There has been break in gracefully of crude material and pressing material to the industrial facility,” it included.

Lyka Labs further said “parties who have put orders with the organization have conceded the execution of requests, thus, deals has been influenced and made liquidity crunch.”

The organization needs to shoulder intrigue cost and fixed overheads by method of lease of the workplace premises and Research and improvement (R&D) focus influencing liquidity position, it included.

The authoritative office and R&D focus of the organization at Mumbai are in part working at present subsequent to shutting down at first during the lockdown.

The exhibition of the organization keeps on being influenced during lockdown, it included.

About Author