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News Details

Indian Acrylics posts Q1 net loss of Rs 22.05 cr

Back
15/09/2020 17:40
The company reported standalone net loss during the quarter stood at Rs 22.05 crore compared to net profit of Rs 10.51 crore in the previous year quarter.ΓΏ

Net revenue of the company declined substantially by 80.90 per cent at Rs 42.24 crore in April-June quarter of this fiscal as against Rs 221.10 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 75.10 per cent to Rs 50.06 crore from Rs 201.05 crore in year ago period.

Other Income dipped by 29.21 per cent at Rs 0.63 crore versus (Jun'19 Rs 0.89 crore).

Operating Profit slipped by 139.03 per cent to Rs -7.83 crore as against Rs 20.06 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 304.30 per cent in June quarter.

Interest grew by 46.22 per cent y-o-y to Rs 8.51 crore