Published on 18/11/2020 2:51:34 PM | Source: Dion Global Solutions Ltd

CMI Ltd posts Q2 net loss of Rs 15.52 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 15.52 crore compared to net profit of Rs 1.09 crore in the previous year quarter.я Net revenue of the company declined substantially by 61.05 per cent at Rs 48.24 crore in July-September quarter of this fiscal as against Rs 123.84 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 49.40 per cent to Rs 57.34 crore from Rs 113.31 crore in year ago period. Other Income dipped by 78.30 per cent at Rs 0.97 crore versus (Sep'19 Rs 4.47 crore).

Operating Profit slipped by 186.51 per cent to Rs -9.11 crore as against Rs 10.53 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 322.12 per cent in September quarter. Interest declined by 8.03 per cent y-o-y to Rs 9.73 crore, while Taxation decreased by 1407.50 per cent at Rs -5.23 crore