Q2 revenue rises 30%, but net loss widens to Rs 42.99 crore
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On the reaction day the stock moved 2.3 pts less than Nifty Microcap 250 and 2.3 pts less than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Consolidated Q2 revenue rose 30% to Rs 644.20 crore from Rs 495.54 crore, but the net loss widened to Rs 42.99 crore from Rs 17.06 crore. H1 revenue edged up 1.3% to Rs 1,168.60 crore, while loss widened to Rs 111.54 crore. Finance cost rose to Rs 168.58 crore. H1 operating cash flow stayed positive at Rs 262.88 crore. Auditors highlighted ongoing property and tax cases without changing their conclusion.
Losses widened despite 30% sales growth. Higher finance costs and unresolved property and tax cases may pressure the stock.