Published on 16/09/2020 5:02:16 PM | Source: Dion Global Solutions Ltd

National Steel and Agro Industries Ltd posts Q1 net loss of Rs 70.42 cr

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The company reported standalone net loss during the quarter stood at Rs 70.42 crore as compared to net loss of Rs 32.88 crore in the previous year quarter. Net revenue of the company declined substantially by 20.56 per cent at Rs 269.29 crore in April-June quarter of this fiscal as against Rs 338.97 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 14.37 per cent to Rs 278.59 crore from Rs 325.35 crore in year ago period. Other Income grew by 100.00 per cent at Rs 0.42 crore versus (Jun'19 Rs 0.21 crore).

Operating Profit slipped by 144.63 per cent to Rs -9.30 crore as against Rs 20.84 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 156.10 per cent in June quarter. Interest grew by 6.82 per cent y-o-y to Rs 44.64 crore, while Taxation increased by 0.00 per cent at Rs 4.73 crore (Jun'19 Rs 0.00 crore).