Nitco posts Q1 net loss of Rs 38.52 cr
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The company reported standalone net loss during the quarter stood at Rs 38.52 crore as compared to net loss of Rs 31.39 crore in the previous year quarter. Net revenue of the company rose moderately by 14.08 per cent at Rs 90.59 crore in April-June quarter of this fiscal as against Rs 79.41 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 10.16 per cent to Rs 97.93 crore from Rs 88.90 crore in year ago period. Other Income grew by 68.93 per cent at Rs 1.74 crore versus (Jun'21 Rs 1.03 crore). Operating Profit slipped by 22.66 per cent to Rs -7.34 crore as against Rs -9.49 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 32.13 per cent in June quarter. Interest grew by 10.31 per cent y-o-y to Rs 17.01 crore
