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31/05/2024 14:30

Harish Textile Engin posts Q4 net loss of Rs 0.86 cr

The company reported standalone net loss during the quarter stood at Rs 0.86 crore compared to net profit of Rs 1.23 crore in the previous year quarter.ÿ

Net revenue of the company rose moderately by 19.20 per cent at Rs 35.82 crore in January-March quarter of this fiscal as against Rs 30.05 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 30.90 per cent to Rs 36.22 crore from Rs 27.67 crore in year ago period.

Other Income grew by 19.77 per cent at Rs 1.03 crore versus (Mar'23 Rs 0.86 crore).

Operating Profit slipped by 116.88 per cent to Rs -0.40 crore as against Rs 2.37 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 114.05 per cent in March quarter.

Interest declined by 2.29 per cent y-o-y to Rs 1.28 crore, while Taxation decreased by 186.36 per cent at Rs -0.19 crore (Mar'23 Rs 0.22 crore).