September quarter posts loss; auditor qualifies results over interest receivable
SAKHTISUG · price
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September quarter operating revenue was Rs 16,826.89 lakh, about 44% below Rs 30,242.41 lakh a year earlier. Loss after tax was Rs 2,306.13 lakh and loss per share was Rs 1.94. Half-year operating cash flow was negative. The auditor qualified the review because no expected credit loss was recorded on Rs 25,219.69 lakh of interest due from an erstwhile associate, affecting prior audits. An exceptional item relates to remission of borrowing interest.
Lower sales, a loss, negative cash flow and a repeated auditor qualification raise recovery and earnings concerns and may weigh on the share price.