Essar Shipping posts Q1 net loss of Rs 25.37 cr
14/08/2019 16:00
The company reported standalone net loss during the quarter stood at Rs 25.37 crore as compared to net loss of Rs 79.25 crore in the previous year quarter.

Net revenue of the company declined substantially by 20.92 per cent at Rs 134.07 crore in April-June quarter of this fiscal as against Rs 169.54 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 49.17 per cent to Rs 90.12 crore from Rs 177.28 crore in year ago period.

Other Income grew by 378.08 per cent at Rs 6.98 crore versus (Jun'18 Rs 1.46 crore).

Operating Profit surged by 667.83 per cent to Rs 43.95 crore as against Rs -7.74 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 817.29 per cent in June quarter.

Interest grew by 2.94 per cent y-o-y to Rs 48.73 crore, while Taxation decreased by 45.45 per cent at Rs 0.30 crore (Jun'18 Rs 0.55 crore).