Q3 FY17 results: Garlon Polyfab reports continued losses

Board approved unaudited Q3 FY17 (Dec 2016) results with a net loss of about 76.94 lacs, widening from about 43.86 lacs loss in the previous quarter. Nine months ended Dec 2016 loss was around 275.13 lacs versus about 310.25 lacs loss in the same period last year. Revenue from operations appears nil, so the company is essentially burning cash with negligible income. Auditor P D Agrawal and Co gave an unmodified limited review report, noting the Ind AS transition and that prior period comparatives were not reviewed.