Indian Acrylics posts Q4 net loss of Rs 23.83 cr
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The company reported standalone net loss during the quarter stood at Rs 23.83 crore compared to net profit of Rs 22.27 crore in the previous year quarter. Net revenue of the company rose substantially by 38.69 per cent at Rs 224.20 crore in January-March quarter of this fiscal as against Rs 161.65 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 86.19 per cent to Rs 235.31 crore from Rs 126.38 crore in year ago period. Other Income dipped by 74.44 per cent at Rs 1.15 crore versus (Mar'21 Rs 4.50 crore).
Operating Profit slipped by 131.49 per cent to Rs -11.11 crore as against Rs 35.28 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 122.69 per cent in March quarter. Interest declined by 31.94 per cent y-o-y to Rs 7.65 crore
