Published on 24/08/2020 5:44:13 PM | Source: Dion Global Solutions Ltd

Indo Rama Synthetics (India) Ltd. posts Q1 net loss of Rs 77.62 cr

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The company reported standalone net loss during the quarter stood at Rs 77.62 crore as compared to net loss of Rs 30.04 crore in the previous year quarter. Net revenue of the company declined substantially by 77.76 per cent at Rs 118.61 crore in April-June quarter of this fiscal as against Rs 533.33 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 69.74 per cent to Rs 159.35 crore from Rs 526.61 crore in year ago period. Other Income grew by 46.49 per cent at Rs 1.67 crore versus (Jun'19 Rs 1.14 crore).

Operating Profit slipped by 706.25 per cent to Rs -40.74 crore as against Rs 6.72 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 2826.19 per cent in June quarter. Interest declined by 42.68 per cent y-o-y to Rs 18.52 crore