SPML Infra on Monday said the COVID-19 pandemic has hit its operations hard, and revenue and profitability are likely to be adversely impacted as all projects have come to a standstill. The infrastructure firm said normalisation of operations will take time as it is also facing shortage of labour. “April-June 2020 being lockdown months, the revenues and profitability of the company are likely to be adversely impacted,” SPML Infra said in a regulatory filing to the BSE.
“The company’s project sites remained closed from March 23, 2020 due to lockdown and partially reopened with effect from May 04, 2020, which has impacted its operations during April and May 2020,” it added. The company said the pandemic has hit it very hard as labour force has been immobilised at sites due to lockdown, with the company taking care of all their overheads and protection costs, food and stay arrangements and other fixed costs with no matching revenues.
