Indian Toners & Developers (ITDL), the manufacturer and exporter of compatible toners, has released its latest quarterly results for the quarter ended 31 December 2019.
Sales at Indian Toners & Developers declined year-on-year 15.2% to Rs 22.15 crore ($3.11 million/ €2.8 million) while net profits declined 50.9% to Rs 2.67 crore ($375,219/ €341,119) in the quarter ended 31 December 2019, a third quarter in a row decline for the Indian toner manufacturer.
ITDL is the largest player in the Indian domestic printer and copier toner market and has a network of over 120 distributors and 600 dealers across India and exports toners to over 20 countries with wholly owned subsidiaries in Singapore and the United States.
The Indian domestic market in under intense price competition from cheaper imports from China, and Malaysia. Sales of toner are also sensitive to import price parity and foreign exchange movements as well as the volatility in raw material prices and ongoing competition.
