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Published on 16/09/2020 11:46:40 AM | Source: Dion Global Solutions Ltd

Sterling and Wilson Solar Ltd posts Q1 net loss of Rs 13.35 cr

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The company reported standalone net loss during the quarter stood at Rs 13.35 crore compared to net profit of Rs 36.01 crore in the previous year quarter.  Net revenue of the company declined substantially by 49.04 per cent at Rs 623.16 crore in April-June quarter of this fiscal as against Rs 1,222.86 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 45.02 per cent to Rs 650.12 crore from Rs 1,182.51 crore in year ago period. Other Income dipped by 47.85 per cent at Rs 30.73 crore versus (Jun'19 Rs 58.93 crore).

Operating Profit slipped by 166.83 per cent to Rs -26.96 crore as against Rs 40.34 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 231.21 per cent in June quarter. Interest declined by 41.80 per cent y-o-y to Rs 18.70 crore, while Taxation decreased by 111.42 per cent at Rs -3.44 crore (Jun'19 Rs 30.12 crore).