Reliance Defence reduces net loss in Q3
Saturday - February 11, 2017 9:22 pm ,
Category : BUSINESS
Mumbai: Reliance Defence and Engineering Ltd on Saturday reported a standalone net loss of Rs 133 crore for the third quarter (October-December) of fiscal 2016-17, which is 55 per cent lower than net loss of Rs.294 crore incurred in same period year ago.
In a regulatory filing to the BSE, the city-based company said gross revenue (standalone) for the quarter under review (Q3), however, zoomed 138 per cent to Rs 133 crore from Rs 56 crore in like period year ago.
Sequentially, net loss was reduced 15 per cent from Rs 116 crore in the second quarter (July-October) while gross revenue increased 27 per cent from Rs 105 crore quarter ago.
"The company is engaged only in the business of ship-building and repairs," said the filing.
At the board meeting earlier in the day, the company' has decided to exit from the corporate debt restructuring scheme on the completion of the process of refinancing.
--IANS
In a regulatory filing to the BSE, the city-based company said gross revenue (standalone) for the quarter under review (Q3), however, zoomed 138 per cent to Rs 133 crore from Rs 56 crore in like period year ago.
Sequentially, net loss was reduced 15 per cent from Rs 116 crore in the second quarter (July-October) while gross revenue increased 27 per cent from Rs 105 crore quarter ago.
"The company is engaged only in the business of ship-building and repairs," said the filing.
At the board meeting earlier in the day, the company' has decided to exit from the corporate debt restructuring scheme on the completion of the process of refinancing.
--IANS
