The company reported standalone net loss during the quarter stood at Rs 16.81 crore as compared to net loss of Rs 2.55 crore in the previous year quarter.

Net revenue of the company declined substantially by 85.98 per cent at Rs 14.06 crore in April-June quarter of this fiscal as against Rs 100.31 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 73.66 per cent to Rs 22.24 crore from Rs 84.42 crore in year ago period.

Other Income dipped by 27.08 per cent at Rs 0.35 crore versus (Jun'19 Rs 0.48 crore).

Operating Profit slipped by 151.48 per cent to Rs -8.18 crore as against Rs 15.89 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 467.30 per cent in June quarter.

Interest declined by 20.30 per cent y-o-y to Rs 11.07 crore, while Taxation increased by 908.86 per cent at Rs -7.97 crore (Jun'19 Rs -0.79 crore).