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Published on 17/11/2020 12:57:36 PM | Source: Dion Global Solutions Ltd

Ankit Metal & Power posts Q2 net loss of Rs 21.00 cr

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The company reported standalone net loss during the quarter stood at Rs 21.00 crore as compared to net loss of Rs 13.06 crore in the previous year quarter. Net revenue of the company declined substantially by 48.75 per cent at Rs 71.10 crore in July-September quarter of this fiscal as against Rs 138.74 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 45.91 per cent to Rs 74.07 crore from Rs 136.95 crore in year ago period. Other Income grew by 100.00 per cent at Rs 0.02 crore versus (Sep'19 Rs 0.01 crore).

Operating Profit slipped by 265.36 per cent to Rs -2.96 crore as against Rs 1.79 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 422.48 per cent in September quarter. Interest grew by 138.58 per cent y-o-y to Rs 6.37 crore