Amtek Auto Q2 net loss widens to Rs 92.24 cr

Debt-ridden auto component maker Amtek Auto on Thursday reported widening of its net loss to Rs 92.24 crore for the second quarter ended September 30, 2019. The company had posted a net loss of Rs 67.25 crore for the July-September period of 2018-19.

Total revenue of the company declined to Rs 194.24 crore as compared to Rs 300.84 crore in the year-ago period, Amtek Auto said in a regulatory filing. In July 2017, the company went into corporate insolvency resolution process after the National Company Law Tribunal (NCLT), Chandigarh admitted a plea of Corporation Bank.

The tribunal appointed Dinkar T Venkatasubramanian as Interim Resolution Professional (IRP) to manage the company's operations. Trading of Amkek Auto's stock on the BSE has been suspended for "penal reasons", BSE said without giving details.

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