Aarvee Denims an posts Q1 net loss of Rs 24.97 cr
12/08/2019 10:30
The company reported standalone net loss during the quarter stood at Rs 24.97 crore compared to net profit of Rs 0.57 crore in the previous year quarter.ΓΏ

Net revenue of the company declined substantially by 22.51 per cent at Rs 167.12 crore in April-June quarter of this fiscal as against Rs 215.67 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 13.32 per cent to Rs 171.28 crore from Rs 197.59 crore in year ago period.

Other Income dipped by 68.07 per cent at Rs 0.38 crore versus (Jun'18 Rs 1.19 crore).

Operating Profit slipped by 118.64 per cent to Rs -3.55 crore as against Rs 19.05 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 124.01 per cent in June quarter.

Interest grew by 9.40 per cent y-o-y to Rs 12.45 crore, while Taxation decreased by 165.63 per cent at Rs -0.21 crore (Jun'18 Rs 0.32 crore).