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Bharat Wire Ropes Lt posts Q3 net loss of Rs 12.11 cr

85,653

The company reported standalone net loss during the quarter stood at Rs 12.11 crore as compared to net loss of Rs 1.40 crore in the previous year quarter. Net revenue of the company rose substantially by 41.96 per cent at Rs 55.01 crore in October-December quarter of this fiscal as against Rs 38.75 crore in the corresponding period last year. During October-December quarter, operating expenses increased by 55.35 per cent to Rs 51.39 crore from Rs 33.08 crore in year ago period.

Other Income grew by 13.33 per cent at Rs 0.17 crore versus (Dec’17 Rs 0.15 crore). Operating Profit slipped by 36.16 per cent to Rs 3.62 crore as against Rs 5.67 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 54.99 per cent in December quarter. Interest grew by 162.97 per cent y-o-y to Rs 16.62 crore, while Taxation increased by 171.04 per cent at Rs -5.99 crore (Dec’17 Rs -2.21 crore).

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