Quarter revenue down 9%, net loss of Rs 483 lakh; lease dispute continues
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.9 pts less than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Quarter revenue fell 9% to Rs 1,918.31 lakh from Rs 2,106.90 lakh. Net profit of Rs 17.68 lakh became a net loss of Rs 482.94 lakh; loss per share was Rs 15.86. Half-year net loss was Rs 324.95 lakh on revenue of Rs 4,570.41 lakh. Operating cash flow was positive Rs 2,308.35 lakh. Borrowings: Rs 19,336.66 lakh against equity Rs 6,682.88 lakh. Reviewer flagged the land lease dispute; eviction is stayed and the accounts use a going concern basis.
Revenue decline, a swing to loss and rising debt pressure the stock. The land lease and eviction risks remain key concerns.