Indo Rama Synthetics' net loss widened to Rs 32.62 crore

The company had reported a net loss of Rs 17.62 crore in the same period previous fiscal.

Indo Rama Synthetics Saturday said its net loss widened to Rs 32.62 crore in the second quarter ended September 30, mainly on account of lower income from operations.

The company had reported a net loss of Rs 17.62 crore in the same period previous fiscal.

In a regulatory filing, the company said it has secured additional working capital funds to ease the liquidity position and improve the capacity utilisation and believes that the profitability will improve over the next few years.

During the quarter under review, its total income reduced to Rs 395.59 crore from Rs 618.95 crore in the July-September period of last fiscal.

However, its total expenses before exceptional items and tax came down significantly to Rs 442.90 crore from Rs 645.95 crore in the corresponding quarter of 2017.

(With inputs from agencies.)