RCI Industries & Tec posts Q2 net loss of Rs 46.56 cr

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The company reported standalone net loss during the quarter stood at Rs 46.56 crore compared to net profit of Rs 4.74 crore in the previous year quarter.  Net revenue of the company declined substantially by 80.93 per cent at Rs 87.20 crore in July-September quarter of this fiscal as against Rs 457.36 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 74.77 per cent to Rs 112.16 crore from Rs 444.58 crore in year ago period. Other Income grew by 4.86 per cent at Rs 3.45 crore versus (Sep'18 Rs 3.29 crore).

Operating Profit slipped by 295.46 per cent to Rs -24.96 crore as against Rs 12.77 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1126.16 per cent in September quarter. Interest declined by 18.23 per cent y-o-y to Rs 4.44 crore, while Taxation decreased by 77.44 per cent at Rs 0.67 crore (Sep'18 Rs 2.97 crore).