The company reported standalone net loss during the quarter stood at Rs 16.21 crore as compared to net loss of Rs 55.10 crore in the previous year quarter. Net revenue of the company declined substantially by 20.66 per cent at Rs 12.52 crore in July-September quarter of this fiscal as against Rs 15.78 crore in the corresponding period last year.
During July-September quarter, operating expenses dropped by 13.53 per cent to Rs 15.02 crore from Rs 17.37 crore in year ago period. Other Income dipped by 82.05 per cent at Rs 0.21 crore versus (Sep'16 Rs 1.17 crore). Operating Profit surged by 140.38 per cent to Rs -2.50 crore as against Rs -1.04 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 201.82 per cent in September quarter. Interest declined by 68.92 per cent y-o-y to Rs 0.23 crore