Home Business Vardhman Polytex posts Q3 net loss of Rs 20.06 cr

Vardhman Polytex posts Q3 net loss of Rs 20.06 cr

by the owl speaks

The company reported a standalone net loss during the quarter stood at Rs 20.06 crore as compared to a net loss of Rs 19.77 crore in the previous year quarter.

Net revenue of the company declined substantially by 39.37 percent at Rs 122.89 crore in the October-December quarter of this fiscal as against Rs 202.69 crore in the corresponding period last year. During the October-December quarter, operating expenses dropped by 38.87 percent to Rs 124.68 crore from Rs 203.95 crore in the year-ago period. Other Income grew by 11.90 percent at Rs 0.94 crore versus (Dec’18 Rs 0.84 crore).

Operating Profit surged by 40.94 percent to Rs -1.79 crore as against Rs -1.27 crore in the year-ago period, while Operating Profit Margin (OPM) contracted year-on-year to 133.87 percent in December quarter. Interest grew by 5.36 percent y-o-y to Rs 15.53 crore

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