The company reported standalone net loss during the quarter stood at Rs 12.38 crore as compared to net loss of Rs 25.24 crore in the previous year quarter. Net revenue of the company declined substantially by 69.84 per cent at Rs 1.36 crore in January-March quarter of this fiscal as against Rs 4.51 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 97.34 per cent to Rs 0.38 crore from Rs 14.29 crore in year ago period. Other Income grew by 717.14 per cent at Rs 8.58 crore versus (Mar'17 Rs 1.05 crore). Operating Profit surged by 109.10 per cent to Rs 0.98 crore as against Rs -10.77 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 130.27 per cent in March quarter. Interest declined by 90.21 per cent y-o-y to Rs 0.14 crore, while Taxation decreased by 42.93 per cent at Rs -3.35 crore (Mar'17 Rs -5.87 crore).