Videocon Industries March quarter net loss at Rs 190 crore

By: | Published: May 16, 2016 2:03 PM

Videocon Industries today reported a standalone net loss of Rs 189.59 crore for the March quarter, dragged down by lower sales and higher finance costs.

 Videocon Industries News, Videocon Industries Latest News, Videocon Industries LtdStandalone net sales declined 10.1 per cent to Rs 2,768.07 crore in January-March as against Rs 3,079.27 crore a year ago. (Reuters)

Videocon Industries today reported a standalone net loss of Rs 189.59 crore for the March quarter, dragged down by lower sales and higher finance costs.

The company had posted a net profit of Rs 10.46 crore in the January-March period of 2014-15, Videocon Industries said in a BSE filing.

Standalone net sales declined 10.1 per cent to Rs 2,768.07 crore in January-March as against Rs 3,079.27 crore a year ago.

During the quarter, the company said consumer electronics and home appliances vertical had a revenue of Rs 2,682.61 crore compared with Rs 2,851.30 crore a year ago, down 5.91 per cent.

Revenue from crude oil and natural gas business fell 62.53 per cent to Rs 87.83 crore during the quarter compared with Rs 234.41 crore in the same period a year ago.

Finance costs in the fourth quarter were at Rs 598.43 crore as against Rs 591.35 crore in the year-ago period.
Videocon Industries shares were trading 1.74 per cent up at Rs 105.20 on BSE in the afternoon session.

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