Published on 11/08/2020 2:47:01 PM | Source: Dion Global Solutions Ltd

Motherson Sumi Systems posts Q1 net loss of Rs 125.29 cr

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

The company reported standalone net loss during the quarter stood at Rs 125.29 crore compared to net profit of Rs 172.05 crore in the previous year quarter.  Net revenue of the company declined substantially by 75.82 per cent at Rs 431.39 crore in April-June quarter of this fiscal as against Rs 1,784.43 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 63.81 per cent to Rs 553.74 crore from Rs 1,529.95 crore in year ago period. Other Income dipped by 2.85 per cent at Rs 15.66 crore versus (Jun'19 Rs 16.12 crore).

Operating Profit slipped by 136.89 per cent to Rs -115.43 crore as against Rs 312.93 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 252.57 per cent in June quarter. Interest declined by 10.10 per cent y-o-y to Rs 15.67 crore, while Taxation decreased by 168.70 per cent at Rs -53.36 crore (Jun'19 Rs 77.67 crore).