OCL Iron & Steel posts Q1 net loss of Rs 42.37 cr

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The company reported standalone net loss during the quarter stood at Rs 42.37 crore as compared to a net loss of Rs 76.70 crore in the previous year quarter. 




Net revenue of the company rose substantially by 26.10 percent at Rs 143.61 crore in the April-June quarter of this fiscal as against Rs 113.89 crore in the corresponding period last year. During the April-June quarter, operating expenses increased by 15.05 percent to Rs 138.05 crore from Rs 119.99 crore in the year-ago period. Other Income grew by 246.15 percent at Rs 1.35 crore versus (Jun'18 Rs 0.39 crore).

Operating Profit surged by 191.31 percent to Rs 5.57 crore as against Rs -6.10 crore in the year-ago period, while Operating Profit Margin (OPM) contracted year-on-year to 172.39 percent in June quarter. Interest declined by 36.20 percent y-o-y to Rs 43.62 crore, while Taxation decreased by 15.03 percent at Rs -16.90 crores (Jun'18 Rs -19.89 crores).



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