Published on 14/11/2017 3:40:10 PM | Source: Dion Global Solutions Ltd

Electrosteel Steels posts Q2 net loss of Rs 296.66 cr

The company reported standalone net loss during the quarter stood at Rs 296.66 crore as compared to net loss of Rs 485.89 crore in the previous year quarter. Net revenue of the company rose substantially by 36.87 per cent at Rs 762.25 crore in July-September quarter of this fiscal as against Rs 556.93 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 3.85 per cent to Rs 681.21 crore from Rs 655.98 crore in year ago period. Other Income dipped by 81.24 per cent at Rs 6.07 crore versus (Sep'16 Rs 32.36 crore). Operating Profit surged by 210.92 per cent to Rs 81.03 crore as against Rs -73.05 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 181.02 per cent in September quarter. Interest declined by 12.85 per cent y-o-y to Rs 282.71 crore