Balasore Alloys posts Q3 net loss of Rs 38.25 cr

The company reported standalone net loss during the quarter stood at Rs 38.25 crore as compared to net loss of Rs 13.22 crore in the previous year quarter. Net revenue of the company declined substantially by 48.03 per cent at Rs 154.66 crore in October-December quarter of this fiscal as against Rs 297.61 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 42.01 per cent to Rs 174.52 crore from Rs 300.95 crore in year ago period. Other Income grew by 271.72 per cent at Rs 14.46 crore versus (Dec’18 Rs 3.89 crore). Operating Profit surged by 496.70 per cent to Rs -19.87 crore as against Rs -3.33 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1047.32 per cent in December quarter. I

nterest grew by 11.82 per cent y-o-y to Rs 11.45 crore, while Taxation increased by 36.89 per cent at Rs -6.42 crore (Dec’18 Rs -4.69 crore).

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