Published on 7/12/2017 5:21:12 PM | Source: Dion Global Solutions Ltd

Ginni Filaments posts Q2 net loss of Rs 1.89 cr

The company reported standalone net loss during the quarter stood at Rs 1.89 crore compared to net profit of Rs 5.05 crore in the previous year quarter.  Net revenue of the company declined moderately by 6.67 per cent at Rs 170.16 crore in July-September quarter of this fiscal as against Rs 182.32 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 0.33 per cent to Rs 158.50 crore from Rs 159.03 crore in year ago period. Other Income grew by 100.00 per cent at Rs 0.04 crore versus (Sep'16 Rs 0.02 crore). Operating Profit slipped by 51.50 per cent to Rs 11.66 crore as against Rs 24.04 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 48.03 per cent in September quarter. Interest declined by 10.76 per cent y-o-y to Rs 7.05 crore, while Taxation decreased by 96.51 per cent at Rs 0.13 crore