MENU

Published on 11/08/2020 5:31:30 PM | Source: IANS

Elecon Engineering Company posts Q1 net loss of Rs 18.74 cr

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

The company reported standalone net loss during the quarter stood at Rs 18.74 crore compared to net profit of Rs 1.34 crore in the previous year quarter.  Net revenue of the company declined substantially by 57.90 per cent at Rs 89.81 crore in April-June quarter of this fiscal as against Rs 213.31 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 48.90 per cent to Rs 94.34 crore from Rs 184.63 crore in year ago period. Other Income grew by 22.73 per cent at Rs 1.08 crore versus (Jun'19 Rs 0.88 crore).

Operating Profit slipped by 115.80 per cent to Rs -4.53 crore as against Rs 28.67 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 137.50 per cent in June quarter. Interest declined by 15.30 per cent y-o-y to Rs 14.56 crore, while Taxation decreased by 1561.19 per cent at Rs -9.79 crore (Jun'19 Rs 0.67 crore).