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17/09/2020 11:10

Ortel Communications posts Q1 net loss of Rs 2.46 cr

The company reported standalone net loss during the quarter stood at Rs 2.46 crore as compared to net loss of Rs 10.97 crore in the previous year quarter.

Net revenue of the company declined moderately by 14.65 per cent at Rs 18.18 crore in April-June quarter of this fiscal as against Rs 21.30 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 40.76 per cent to Rs 15.68 crore from Rs 26.47 crore in year ago period.

Other Income grew by 104.17 per cent at Rs 1.47 crore versus (Jun'19 Rs 0.72 crore).

Operating Profit surged by 148.36 per cent to Rs 2.50 crore as against Rs -5.17 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 156.65 per cent in June quarter.