Radha Madhav posts big quarterly loss after NCLT resolution plan

Company submitted unaudited Q2 FY23 results after exchange clarification. Revenue from operations fell to Rs 0.34 million from Rs 0.55 million a year ago. Reported a quarterly loss of Rs 236.17 million and a half-year loss of Rs 238.95 million, mostly from other expenses of Rs 202.75 million. The firm was under CIRP and NCLT Ahmedabad approved the resolution plan of Vama Construction on 1 Aug 2022. New promoters and directors have taken over; earlier management is discontinued. Total equity remains negative at minus 75.24 million. Cash flow from operations was negative 478.29 million.