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Published on 8/11/2019 5:28:05 PM | Source: Dion Global Solutions Ltd

Inox Wind posts Q2 net loss of Rs 29.89 cr

The company reported standalone net loss during the quarter stood at Rs 29.89 crore compared to net profit of Rs 7.38 crore in the previous year quarter.  Net revenue of the company declined substantially by 86.13 per cent at Rs 55.44 crore in July-September quarter of this fiscal as against Rs 399.71 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 77.96 per cent to Rs 80.39 crore from Rs 364.81 crore in year ago period. Other Income grew by 77.81 per cent at Rs 19.95 crore versus (Sep'18 Rs 11.22 crore). Operating Profit slipped by 171.49 per cent to Rs -24.95 crore as against Rs 34.90 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 615.46 per cent in September quarter. Interest grew by 21.10 per cent y-o-y to Rs 30.48 crore, while Taxation decreased by 504.20 per cent at Rs -16.37 crore (Sep'18 Rs 4.05 crore).