Published on 13/08/2020 2:37:13 PM | Source: Dion Global Solutions Ltd

Sanghvi Movers Ltd posts Q1 net loss of Rs 12.87 cr

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The company reported standalone net loss during the quarter stood at Rs 12.87 crore as compared to net loss of Rs 3.13 crore in the previous year quarter. Net revenue of the company declined substantially by 56.28 per cent at Rs 36.41 crore in April-June quarter of this fiscal as against Rs 83.28 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 49.01 per cent to Rs 21.58 crore from Rs 42.32 crore in year ago period. Other Income grew by 79.27 per cent at Rs 4.41 crore versus (Jun'19 Rs 2.46 crore).

Operating Profit slipped by 63.82 per cent to Rs 14.82 crore as against Rs 40.96 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 17.22 per cent in June quarter. Interest declined by 33.04 per cent y-o-y to Rs 7.64 crore, while Taxation increased by 270.09 per cent at Rs -4.33 crore (Jun'19 Rs -1.17 crore).