Published on 14/08/2020 1:56:24 PM | Source: Dion Global Solutions Ltd

Orient Bell posts Q1 net loss of Rs 11.04 cr

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The company reported standalone net loss during the quarter stood at Rs 11.04 crore compared to net profit of Rs 0.34 crore in the previous year quarter.  Net revenue of the company declined substantially by 64.45 per cent at Rs 42.73 crore in April-June quarter of this fiscal as against Rs 120.21 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 52.47 per cent to Rs 54.53 crore from Rs 114.72 crore in year ago period. Other Income dipped by 73.64 per cent at Rs 0.29 crore versus (Jun'19 Rs 1.10 crore).

Operating Profit slipped by 297.99 per cent to Rs -11.80 crore as against Rs 5.96 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 656.85 per cent in June quarter. Interest declined by 15.53 per cent y-o-y to Rs 1.74 crore, while Taxation decreased by 2925.00 per cent at Rs -4.52 crore (Jun'19 Rs 0.16 crore).