Published on 2/12/2019 12:17:47 PM | Source: Dion Global Solutions Ltd

OCL Iron & Steel posts Q2 net loss of Rs 80.03 cr

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The company reported standalone net loss during the quarter stood at Rs 80.03 crore as compared to net loss of Rs 84.80 crore in the previous year quarter. Net revenue of the company declined substantially by 29.46 per cent at Rs 60.64 crore in July-September quarter of this fiscal as against Rs 85.96 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 1.06 per cent to Rs 93.33 crore from Rs 92.35 crore in year ago period. Other Income grew by 63.64 per cent at Rs 0.54 crore versus (Sep'18 Rs 0.33 crore).

Operating Profit surged by 411.42 per cent to Rs -32.68 crore as against Rs -6.39 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 625.30 per cent in September quarter. Interest declined by 17.50 per cent y-o-y to Rs 62.39 crore, while Taxation increased by 141.91 per cent at Rs -47.22 crore (Sep'18 Rs -19.52 crore).