Reliance Home Finance posts Q3 net loss of Rs 339.55 cr
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The company reported standalone net loss during the quarter stood at Rs 339.55 crore as compared to net loss of Rs 74.00 crore in the previous year quarter. Net revenue of the company declined substantially by 59.61 per cent at Rs 173.28 crore in October-December quarter of this fiscal as against Rs 429.00 crore in the corresponding period last year.
During October-December quarter, operating expenses increased by 78.72 per cent to Rs 387.83 crore from Rs 217.00 crore in year ago period. Other Income dipped by 92.22 per cent at Rs 0.70 crore versus (Dec'19 Rs 9.00 crore).
Operating Profit slipped by 199.01 per cent to Rs -213.87 crore as against Rs 216.00 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 345.12 per cent in December quarter. Interest declined by 9.19 per cent y-o-y to Rs 300.58 crore, while Taxation increased by 429.58 per cent at Rs -174.76 crore (Dec'19 Rs -33.00 crore).
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