Published on 7/08/2020 5:38:49 PM | Source: Dion Global Solutions Ltd

Johnson Controls-Hit posts Q1 net loss of Rs 23.13 cr

Posted in Stock Market| #Stock Market #Quarterly Result

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The company reported standalone net loss during the quarter stood at Rs 23.13 crore compared to net profit of Rs 63.60 crore in the previous year quarter.  Net revenue of the company declined substantially by 71.68 per cent at Rs 269.58 crore in April-June quarter of this fiscal as against Rs 951.91 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 65.32 per cent to Rs 291.70 crore from Rs 841.22 crore in year ago period. Other Income dipped by 56.77 per cent at Rs 0.99 crore versus (Jun'19 Rs 2.29 crore).

Operating Profit slipped by 119.98 per cent to Rs -22.12 crore as against Rs 110.69 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 170.59 per cent in June quarter. Interest grew by 117.92 per cent y-o-y to Rs 3.77 crore, while Taxation decreased by 122.16 per cent at Rs -7.74 crore (Jun'19 Rs 34.93 crore).