19 Sep 2020 | 8:47 PM

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COMPANYNEWS
India Steel Works Lt posts Q2 net loss of Rs 1.88 cr
  India Steel Works Ltd. | 17 Jan 2020 | 10:50 AM
Published on 11-15-2019
The company reported standalone net loss during the quarter stood at Rs 1.88 crore compared to net profit of Rs 0.14 crore in the previous year quarter. 


Net revenue of the company declined substantially by 74.49 per cent at Rs 32.56 crore in July-September quarter of this fiscal as against Rs 127.63 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 65.73 per cent to Rs 43.50 crore from Rs 126.93 crore in year ago period.


Other Income grew by 171.56 per cent at Rs 14.42 crore versus (Sep`18 Rs 5.31 crore).


Operating Profit slipped by 1662.86 per cent to Rs -10.94 crore as against Rs 0.70 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 6209.09 per cent in September quarter.


Interest declined by 17.83 per cent y-o-y to Rs 2.58 crore