Published on 9/09/2020 11:00:24 AM | Source: Dion Global Solutions Ltd

Mafatlal Ind posts Q1 net loss of Rs 37.59 cr

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The company reported standalone net loss during the quarter stood at Rs 37.59 crore as compared to net loss of Rs 5.20 crore in the previous year quarter.

Net revenue of the company declined substantially by 85.01 per cent at Rs 40.78 crore in April-June quarter of this fiscal as against Rs 272.04 crore in the corresponding period last year. During April-June quarter, operating expenses dropped by 78.28 per cent to Rs 58.54 crore from Rs 269.52 crore in year ago period. Other Income grew by 107.71 per cent at Rs 8.35 crore versus (Jun'19 Rs 4.02 crore).

Operating Profit slipped by 801.98 per cent to Rs -17.76 crore as against Rs 2.53 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 4783.87 per cent in June quarter. Interest declined by 34.02 per cent y-o-y to Rs 5.47 crore