Avantha group firm Ballarpur Industries’ consolidated net loss widened to Rs 327.5 crore for the third quarter ended December 2016, on account of low income and higher finance costs.
The company, which makes writing and printing paper, had posted a net loss of Rs 59.31 crore in the same period of the previous fiscal.
Total income from operations fell by 66.23 per cent to Rs 365.42 crore, from Rs 1,082.21 crore in the year-ago period, Ballarpur Industries Ltd (BILT) said in a BSE filing
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During the quarter, the company’s finance cost stood at Rs 240.78 crore as against Rs 117.61 crore reported a year ago.
The stock was trading 4.89 per cent higher at Rs 17.15 on BSE.