For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

IVRCL Q1 net loss widens to Rs 187.18 cr

By Religare
|

IVRCL Ltd which is a engineering, procurement and construction (EPC) and lump sum turnkey (LSTK) service provider announced that it has posted a loss of Rs. 187.18 crore for the first quarter ended June 30, 2015 as against a loss of Rs. 157.91 crore for the first quarter ended June 30, 2014 as a result of lower pace of implementation of projects and high interest rate regime.

The net sales of the company which operates in core infrastructure sectors namely water and environment, transportation, buildings and power fell by 25.58 per cent to Rs. 620.28 crore during the period under review as against Rs. 833.50 crore it posted for the corresponding quarter last fiscal.

 

Commenting on this, R Balarami Reddy, Joint Managing Director, "While the company had gone in for restructure of the corporate debt, certain creditors have filed winding up petitions against IVRCL. The matter is presently sub-judice and the company is taking appropriate steps to settle the matter."

Story first published: Monday, August 17, 2015, 9:40 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more