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IVRCL posts Q2 net loss of Rs 394.44 cr
  IVRCL Ltd. | 30 Aug 2019 | 03:41 PM
Published on 11-18-2019
The company reported standalone net loss during the quarter stood at Rs 394.44 crore as compared to net loss of Rs 443.04 crore in the previous year quarter.


Net revenue of the company declined substantially by 52.23 per cent at Rs 111.80 crore in July-September quarter of this fiscal as against Rs 234.03 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 27.23 per cent to Rs 184.16 crore from Rs 253.06 crore in year ago period.


Other Income dipped by 68.93 per cent at Rs 3.52 crore versus (Sep`18 Rs 11.33 crore).


Operating Profit surged by 280.04 per cent to Rs -72.36 crore as against Rs -19.04 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 696.06 per cent in September quarter.


Interest declined by 4.37 per cent y-o-y to Rs 310.16 crore while Taxation increased by 0.00 per cent at Rs 0.37 crore (Sep`18 Rs 0.37 crore).