Published on 12/08/2020 2:05:00 PM | Source: Dion Global Solutions Ltd

Lumax Inds. posts Q1 net loss of Rs 28.25 cr

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The company reported standalone net loss during the quarter stood at Rs 28.25 crore compared to net profit of Rs 13.93 crore in the previous year quarter.  Net revenue of the company declined substantially by 80.60 per cent at Rs 78.01 crore in April-June quarter of this fiscal as against Rs 402.02 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 68.96 per cent to Rs 112.89 crore from Rs 363.72 crore in year ago period. Other Income grew by 167.89 per cent at Rs 2.92 crore versus (Jun'19 Rs 1.09 crore).

Operating Profit slipped by 191.05 per cent to Rs -34.88 crore as against Rs 38.31 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 569.15 per cent in June quarter. Interest grew by 66.95 per cent y-o-y to Rs 7.73 crore, while Taxation decreased by 547.16 per cent at Rs -25.22 crore (Jun'19 Rs 5.64 crore).