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Published on 4/08/2020 3:01:49 PM | Source: Dion Global Solutions Ltd

JTEKT India Ltd posts Q1 net loss of Rs 36.02 cr

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The company reported standalone net loss during the quarter stood at Rs 36.02 crore compared to net profit of Rs 6.93 crore in the previous year quarter.  Net revenue of the company declined substantially by 80.58 per cent at Rs 76.77 crore in April-June quarter of this fiscal as against Rs 395.33 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 71.14 per cent to Rs 105.45 crore from Rs 365.39 crore in year ago period. Other Income dipped by 68.44 per cent at Rs 1.60 crore versus (Jun'19 Rs 5.07 crore).

Operating Profit slipped by 195.79 per cent to Rs -28.68 crore as against Rs 29.94 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 593.39 per cent in June quarter. Interest declined by 61.59 per cent y-o-y to Rs 1.26 crore, while Taxation decreased by 564.43 per cent at Rs -11.75 crore (Jun'19 Rs 2.53 crore).