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Published on 2/12/2020 9:16:41 AM | Source: Dion Global Solutions Ltd

India Steel Works Ltd posts Q2 net loss of Rs 3.54 cr

Posted in Stock Market| #Stock Market #Quarterly Result #Steel

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The company reported standalone net loss during the quarter stood at Rs 3.54 crore as compared to net loss of Rs 1.88 crore in the previous year quarter.

Net revenue of the company rose substantially by 40.63 per cent at Rs 45.79 crore in July-September quarter of this fiscal as against Rs 32.56 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 3.08 per cent to Rs 44.84 crore from Rs 43.50 crore in year ago period.

Other Income dipped by 98.34 per cent at Rs 0.24 crore versus (Sep'19 Rs 14.42 crore).

Operating Profit surged by 108.78 per cent to Rs 0.96 crore as against Rs -10.94 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 106.22 per cent in September quarter.

Interest declined by 19.77 per cent y-o-y to Rs 2.07 crore