Vertex Securities reports higher quarterly and half-year losses
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Awaiting price reaction for this filing.
Standalone revenue from operations for the September quarter fell 3.4% to Rs 145.44 lakh and total income fell 8.9% to Rs 169.23 lakh. The net loss widened to Rs 50 lakh from Rs 34.70 lakh. Standalone half-year revenue was Rs 308.53 lakh, down 3.8%, and net loss widened to Rs 99.17 lakh from Rs 52.49 lakh. Consolidated half-year net loss was Rs 85.55 lakh versus Rs 50.77 lakh. The auditor raised no objection, though one subsidiary was not reviewed.
Lower income and a wider loss point to continued earnings pressure and may weigh on the stock, although the auditor raised no objection.