24 Sep 2020 | 1:49 PM

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COMPANYNEWS
India Steel Works Lt posts Q1 net loss of Rs 5.76 cr
  India Steel Works Ltd. | 17 Jan 2020 | 10:50 AM
Published on 10-17-2019
The company reported standalone net loss during the quarter stood at Rs 5.76 crore as compared to net loss of Rs 1.56 crore in the previous year quarter.


Net revenue of the company declined substantially by 50.16 per cent at Rs 60.95 crore in April-June quarter of this fiscal as against Rs 122.29 crore in the corresponding period last year.


During April-June quarter operating expenses dropped by 43.95 per cent to Rs 72.00 crore from Rs 128.46 crore in year ago period.


Other Income dipped by 2.50 per cent at Rs 10.52 crore versus (Jun`18 Rs 10.79 crore).


Operating Profit surged by 79.38 per cent to Rs -11.05 crore as against Rs -6.16 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 259.72 per cent in June quarter.


Interest declined by 24.00 per cent y-o-y to Rs 2.66 crore