Published on 7/08/2020 5:35:53 PM | Source: Dion Global Solutions Ltd

Gabriel India Ltd posts Q1 net loss of Rs 23.78 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 23.78 crore compared to net profit of Rs 22.07 crore in the previous year quarter.  Net revenue of the company declined substantially by 76.24 per cent at Rs 122.85 crore in April-June quarter of this fiscal as against Rs 517.15 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 70.60 per cent to Rs 139.94 crore from Rs 475.91 crore in year ago period. Other Income grew by 43.10 per cent at Rs 2.49 crore versus (Jun'19 Rs 1.74 crore).

Operating Profit slipped by 141.44 per cent to Rs -17.09 crore as against Rs 41.24 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 274.53 per cent in June quarter. Interest declined by 5.33 per cent y-o-y to Rs 0.71 crore, while Taxation decreased by 104.13 per cent at Rs -0.40 crore (Jun'19 Rs 9.69 crore).