Reliance Naval Q4 loss widens to Rs 408.6 cr

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Mumbai | Published: April 24, 2018 5:55:29 AM

Reliance Naval and Engineering (RNAVAL), on Monday said its standalone loss for the quarter ended March 31 widened to Rs 408.6 crore from Rs 139.92 crore a year ago.

Reliance Naval and Engineering, Reliance Defence and Engineering Limited, India largest integrated shipbuilding facilityIn a stock exchange filing, the company, formerly known as Reliance Defence and Engineering Limited, said its total income dropped 86% to Rs 34.76 crore. (Reuters)

Reliance Naval and Engineering (RNAVAL), on Monday said its standalone loss for the quarter ended March 31 widened to Rs 408.6 crore from Rs 139.92 crore a year ago. In a stock exchange filing, the company, formerly known as Reliance Defence and Engineering Limited, said its total income dropped 86% to Rs 34.76 crore. However, total expenses increased 11.8% to Rs 249.3 crore. The company’s consolidated loss for FY18 widened to Rs 1011.97 crore from Rs 577.22 crore a year ago. Revenue dropped 24.2% year-on-year to Rs 457.13 crore.

The stock closed 4.1% lower at Rs 27, ahead of the company’s results announcement published after the close of trading hours. RNAVAL operates India’s largest integrated shipbuilding facility.

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