Published on 31/08/2020 2:30:45 PM | Source: Dion Global Solutions Ltd

Arvind posts Q1 net loss of Rs 76.86 cr

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

The company reported standalone net loss during the quarter stood at Rs 76.86 crore compared to net profit of Rs 32.87 crore in the previous year quarter.  Net revenue of the company declined substantially by 71.69 per cent at Rs 493.03 crore in April-June quarter of this fiscal as against Rs 1,741.64 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 67.16 per cent to Rs 521.33 crore from Rs 1,587.54 crore in year ago period. Other Income dipped by 68.68 per cent at Rs 8.96 crore versus (Jun'19 Rs 28.61 crore).

Operating Profit slipped by 118.36 per cent to Rs -28.30 crore as against Rs 154.10 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 164.86 per cent in June quarter. Interest declined by 9.56 per cent y-o-y to Rs 54.70 crore, while Taxation decreased by 469.07 per cent at Rs -58.35 crore (Jun'19 Rs 15.81 crore).