Shalimar Paints reports net loss of over Rs 10 crore in Q2 2018-19

Shalimar Paints on Thursday reported widening of standalone net loss to Rs 10.06 crore for the second quarter ended September 30, 2018.

The company had posted a net loss of Rs 9.80 crore in the July-September period of the last fiscal, Shalimar Paints said in a BSE filing.

Total income from operations was up 1.46 per cent to Rs 72.13 crore as against Rs 71.09 crore in the year-ago period.

Shalimar Paints' total expenses during the quarter were down 0.19 per cent to Rs 86.96 crore as against Rs 87.13 crore in the year-ago period.

Meanwhile, in a separate filing, Shalimar Paints informed BSE that its board has approved rights issue to be offered at a price of Rs 64.50 per share.

"Total number of Rights Equity Shares to be issued: 3,37,47,518 equity shares," the company said.

Shares of Shalimar Paints settled at Rs 84.65 per scrip on BSE, down 2.36 per cent from the previous close.