Aarvee Denims an posts Q2 net loss of Rs 16.64 cr
18/11/2019 11:20
The company reported standalone net loss during the quarter stood at Rs 16.64 crore as compared to net loss of Rs 0.20 crore in the previous year quarter.

Net revenue of the company declined by 5.44 per cent at Rs 166.97 crore in July-September quarter of this fiscal as against Rs 176.57 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 2.05 per cent to Rs 161.90 crore from Rs 158.65 crore in year ago period.

Other Income dipped by 56.99 per cent at Rs 0.40 crore versus (Sep'18 Rs 0.93 crore).

Operating Profit slipped by 67.56 per cent to Rs 6.17 crore as against Rs 19.02 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 65.65 per cent in September quarter.

Interest grew by 16.50 per cent y-o-y to Rs 13.20 crore, while Taxation decreased by 17.31 per cent at Rs 0.43 crore (Sep'18 Rs 0.52 crore).