Published on 5/08/2020 5:33:43 PM | Source: Dion Global Solutions Ltd

VIP Industries Ltd posts Q1 net loss of Rs 41.67 cr

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The company reported standalone net loss during the quarter stood at Rs 41.67 crore compared to net profit of Rs 37.53 crore in the previous year quarter.  Net revenue of the company declined substantially by 92.85 per cent at Rs 40.33 crore in April-June quarter of this fiscal as against Rs 564.18 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 79.47 per cent to Rs 92.08 crore from Rs 448.55 crore in year ago period. Other Income grew by 52.76 per cent at Rs 19.08 crore versus (Jun'19 Rs 12.49 crore).

Operating Profit slipped by 144.75 per cent to Rs -51.75 crore as against Rs 115.63 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 725.95 per cent in June quarter. Interest grew by 17.05 per cent y-o-y to Rs 6.18 crore, while Taxation decreased by 182.09 per cent at Rs -15.40 crore (Jun'19 Rs 18.76 crore).