06 Dec 2019 | 2:28 PM

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COMPANYNEWS
Bharat Gears posts Q2 net loss of Rs 1.58 cr
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Published on 11-15-2019
The company reported standalone net loss during the quarter stood at Rs 1.58 crore compared to net profit of Rs 4.01 crore in the previous year quarter. 


Net revenue of the company declined moderately by 11.39 per cent at Rs 132.71 crore in July-September quarter of this fiscal as against Rs 149.77 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 9.87 per cent to Rs 121.90 crore from Rs 135.25 crore in year ago period.


Other Income dipped by 31.51 per cent at Rs 1.63 crore versus (Sep`18 Rs 2.38 crore).


Operating Profit slipped by 25.55 per cent to Rs 10.81 crore as against Rs 14.52 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 15.89 per cent in September quarter.


Interest grew by 7.65 per cent y-o-y to Rs 5.63 crore while Taxation decreased by 29.54 per cent at Rs 1.67 crore (Sep`18 Rs 2.37 crore).