Rane (Madras) posts Q4 net loss of Rs 56.65 cr
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The company reported standalone net loss during the quarter stood at Rs 56.65 crore as compared to net loss of Rs 34.10 crore in the previous year quarter. Net revenue of the company rose substantially by 51.83 per cent at Rs 378.35 crore in January-March quarter of this fiscal as against Rs 249.20 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 50.80 per cent to Rs 354.78 crore from Rs 235.27 crore in year ago period. Other Income dipped by 79.69 per cent at Rs 2.08 crore versus (Mar'20 Rs 10.24 crore).
Operating Profit surged by 69.20 per cent to Rs 23.57 crore as against Rs 13.93 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 11.45 per cent in March quarter. Interest declined by 57.58 per cent y-o-y to Rs 3.05 crore, while Taxation increased by 903.13 per cent at Rs 2.57 crore (Mar'20 Rs -0.32 crore).
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