MEP Infrastructure posts Q1 net loss of Rs 41.88 cr
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The company reported standalone net loss during the quarter stood at Rs 41.88 crore as compared to net loss of Rs 10.69 crore in the previous year quarter. Net revenue of the company declined substantially by 80.31 per cent at Rs 15.84 crore in April-June quarter of this fiscal as against Rs 80.46 crore in the corresponding period last year.
During April-June quarter, operating expenses dropped by 32.50 per cent to Rs 44.24 crore from Rs 65.54 crore in year ago period. Other Income dipped by 95.20 per cent at Rs 0.62 crore versus (Jun'21 Rs 12.92 crore). Operating Profit slipped by 290.35 per cent to Rs -28.40 crore as against Rs 14.92 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1067.21 per cent in June quarter. Interest declined by 8.05 per cent y-o-y to Rs 11.20 crore, while Taxation decreased by 93.41 per cent at Rs 0.12 crore (Jun'21 Rs 1.82 crore).
