Published on 16/09/2020 4:55:01 PM | Source: Dion Global Solutions Ltd

MEP Infrastructure Developers Ltd posts Q1 net loss of Rs 34.33 cr

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The company reported standalone net loss during the quarter stood at Rs 34.33 crore as compared to net loss of Rs 32.40 crore in the previous year quarter. Net revenue of the company declined substantially by 90.10 per cent at Rs 42.01 crore in April-June quarter of this fiscal as against Rs 424.37 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 87.85 per cent to Rs 53.38 crore from Rs 439.17 crore in year ago period. Other Income grew by 394.94 per cent at Rs 7.82 crore versus (Jun'19 Rs 1.58 crore).

Operating Profit slipped by 23.18 per cent to Rs -11.37 crore as against Rs -14.80 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 675.64 per cent in June quarter. Interest grew by 9.04 per cent y-o-y to Rs 15.80 crore, while Taxation decreased by 59.00 per cent at Rs -0.41 crore (Jun'19 Rs -1.00 crore).