Further, the company incurred net loss of Rs 15.03 crore for the quarter ended March 31, 2017 against net profit of Rs 88.63 crore in the corresponding quarter in the previous year. For the financial year that ended on March 31, 2017, the company's net revenue stood at Rs 2,729.57 crore as compared to Rs 2,791.15 crore in the previous year. Its operational EBIDTA is Rs 23.76 crore as compared to Rs 89.94 crore in the last fiscal year. The company's net loss is Rs 84.23 crore for the current financial year as against net profit of Rs 37.03 crore during the last financial year.
"We are waiting for the announcement of GST on textiles and with the fibre neutrality is likely to be a growth stimulator for the polyester industry," OP Lohia, chairman & managing director, Indo Rama Synthetics (India) Ltd. said. (RR)
Fibre2Fashion News Desk – India
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