Brief: Rain Industries Sees Delay In Collecting Receivable From Customer In Venezuela in Q4

Rain Industries

04/02/2019 02:56

Feb 4 (Reuters) - Rain Industries Ltd  RAID.NS :
    * RAIN INDUSTRIES - IN Q4, THERE WILL BE DELAY IN COLLECTING
RECEIVABLE FROM ITS CUSTOMER IN VENEZUELA
    * RAIN INDUSTRIES - DECIDED TO MAKE AN ALLOWANCE FOR
DOUBTFUL
RECEIVABLES OF $10.85 MILLION DURING THE DECEMBER 2018 QUARTER
    * SAYS OPERATING MARGINS WERE ALSO AFFECTED BY THE REVALUING
OF
INVENTORY DUE TO THE PRICING ENVIRONMENT
    * EXPECTED THAT DECLINE IN PRICE OF FINISHED PRODUCT WILL
OUTPACE
DECLINE IN COST OF INVENTORY, LEADING TO MARGIN PRESSURE IN
DEC-QUARTER

Source text - http://bit.ly/2S5QS0K
Further company coverage:  RAID.NS 

 ((Reuters.Briefs@thomsonreuters.com;))