Sterling and Wilson posts Q2 net loss of Rs 55.31 cr
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The company reported standalone net loss during the quarter stood at Rs 55.31 crore as compared to net loss of Rs 42.04 crore in the previous year quarter. Net revenue of the company declined substantially by 77.69 per cent at Rs 213.98 crore in July-September quarter of this fiscal as against Rs 958.98 crore in the corresponding period last year. During July-September quarter, operating expenses dropped by 65.49 per cent to Rs 354.59 crore from Rs 1,027.63 crore in year ago period.
Other Income grew by 299.39 per cent at Rs 117.94 crore versus (Sep'21 Rs 29.53 crore). Operating Profit surged by 104.82 per cent to Rs -140.61 crore as against Rs -68.65 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 817.74 per cent in September quarter. Interest grew by 84.24 per cent y-o-y to Rs 30.99 crore, while Taxation increased by 101.48 per cent at Rs 0.23 crore (Sep'21 Rs -15.53 crore).
