BGR Energy Systems report Rs 4.71 cr loss in March quarter

The consolidated net profit of the company was Rs 31.96 crore in quarter ended on March 31, 2019, a regulatory filing said. Total income dropped to Rs 320.32 crore in the quarter from Rs 1,012.98 crore in same period last year.

New Delhi, Jun 30 (PTI) BGR Energy Systems on Tuesday reported a consolidated net loss of Rs 4.71 crore for the January-March quarter 2020. The consolidated net profit of the company was Rs 31.96 crore in quarter ended on March 31, 2019, a regulatory filing said.

Total income dropped to Rs 320.32 crore in the quarter from Rs 1,012.98 crore in same period last year. For 2019-20, the company posted a net loss of Rs 9.57 crore against consolidated net profit of Rs 15.10 crore in 2018-19.

Total income declined to Rs 2,734.49 crore in 2019-20 from Rs 3,275.59 crore in 2018-19. Nationwide lockdown consequent to spread of COVID-19 pandemic had temporarily disrupted the operations of the company, it said The manufacturing facilities and site executions during the period (March 23rd to March 31st, 2020) were inoperative, which along with the COVID impact globally (before the lockdown in India) impacted the revenues for the year, it stated.

"Broadly, the impact on revenue for the year is assessed at Rs 300 crore. Based on the internal and external information up to the date approval of this financial statements, the company expects to recover the carrying amounts of its assets,investments,trade receivables, contract assets and inventories," it added..

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