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Published on 24/07/2020 1:39:39 PM | Source: Dion Global Solutions Ltd

Lakshmi Machines posts Q1 net loss of Rs 19.17 cr

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The company reported standalone net loss during the quarter stood at Rs 19.17 crore compared to net profit of Rs 14.06 crore in the previous year quarter.  Net revenue of the company declined substantially by 62.30 per cent at Rs 170.52 crore in April-June quarter of this fiscal as against Rs 452.32 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 55.22 per cent to Rs 197.17 crore from Rs 440.30 crore in year ago period. Other Income dipped by 11.88 per cent at Rs 18.69 crore versus (Jun'19 Rs 21.21 crore).

Operating Profit slipped by 321.90 per cent to Rs -26.65 crore as against Rs 12.01 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 687.59 per cent in June quarter. Taxation decreased by 157.40 per cent at Rs -3.80 crore (Jun'19 Rs 6.62 crore).