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Q3FY17 net loss rides higher at Indo Rama Synthetics
Feb '17
For the three months ended December 31, 2016, net loss rode higher at polyester fibre producer Indo Rama Synthetics (India) Limited, at Rs 37.95 crore as compared to net loss of Rs 7.76 crore in the same quarter of last fiscal. Net revenue too dipped to Rs 623.92 crore in the reporting quarter, as against Rs 663.25 crore in the prior fiscal’s third quarter.

In the third quarter of fiscal 2017, EBIDTA stood at a negative Rs 16.22 crore vis-à-vis Rs 22.04 crore in the third quarter of earlier fiscal.

For the nine months ended December 31, 2016, net revenue amounted to Rs 2099.80 crore, up from Rs 2065.37 crore in the earlier fiscal’s same quarter.

In the period under review, EBIDTA was negative at Rs 8.80 crore as compared to Rs 56.56 crore in the same period of the previous fiscal, while net loss grew to Rs 69.20 crore versus net loss of Rs 51.60 crore during the corresponding period of prior fiscal. (AR)

Fibre2Fashion News Desk – India

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