Published on 16/09/2020 1:54:40 PM | Source: Dion Global Solutions Ltd

Sangam India Ltd posts Q1 net loss of Rs 32.17 cr

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The company reported standalone net loss during the quarter stood at Rs 32.17 crore compared to net profit of Rs 1.08 crore in the previous year quarter.  Net revenue of the company declined substantially by 76.13 per cent at Rs 108.98 crore in April-June quarter of this fiscal as against Rs 456.62 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 70.20 per cent to Rs 125.14 crore from Rs 419.96 crore in year ago period. Other Income dipped by 68.05 per cent at Rs 1.31 crore versus (Jun'19 Rs 4.10 crore).

Operating Profit slipped by 144.08 per cent to Rs -16.16 crore as against Rs 36.66 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 284.68 per cent in June quarter. Interest declined by 26.49 per cent y-o-y to Rs 13.85 crore, while Taxation decreased by 2563.77 per cent at Rs -17.00 crore (Jun'19 Rs 0.69 crore).