Nitco posts Q2 net loss of Rs 36.10 cr
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The company reported standalone net loss during the quarter stood at Rs 36.10 crore as compared to net loss of Rs 26.75 crore in the previous year quarter. Net revenue of the company declined moderately by 17.55 per cent at Rs 73.71 crore in July-September quarter of this fiscal as against Rs 89.40 crore in the corresponding period last year. During July-September quarter, operating expenses dropped by 13.19 per cent to Rs 85.20 crore from Rs 98.14 crore in year ago period.
Other Income dipped by 74.21 per cent at Rs 1.38 crore versus (Sep'21 Rs 5.35 crore). Operating Profit surged by 31.35 per cent to Rs -11.48 crore as against Rs -8.74 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 59.47 per cent in September quarter. Interest grew by 17.81 per cent y-o-y to Rs 18.59 crore
