Published on 16/09/2020 4:48:59 PM | Source: Dion Global Solutions Ltd

Aarvee Denims and Exports Ltd posts Q1 net loss of Rs 24.93 cr

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The company reported standalone net loss during the quarter stood at Rs 24.93 crore as compared to net loss of Rs 24.97 crore in the previous year quarter. Net revenue of the company declined substantially by 97.90 per cent at Rs 3.51 crore in April-June quarter of this fiscal as against Rs 167.12 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 95.25 per cent to Rs 8.14 crore from Rs 171.28 crore in year ago period. Other Income dipped by 13.16 per cent at Rs 0.33 crore versus (Jun'19 Rs 0.38 crore).

Operating Profit surged by 30.42 per cent to Rs -4.63 crore as against Rs -3.55 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 6118.40 per cent in June quarter. Interest declined by 8.11 per cent y-o-y to Rs 11.44 crore, while Taxation increased by 909.52 per cent at Rs 1.70 crore (Jun'19 Rs -0.21 crore).