Coffee Day Posts Q3 Net Loss of Rs 97 Crore; Stocks Suspended

Coffee Day Enterprises on Tuesday announced a decline in consolidated net losses to Rs 97.11 crore for the quarter ended December 2020.

The firm had reported a net loss of Rs 184.94 crore in the year October-December a year earlier, according to Coffee Day Enterprises Ltd (CDEL) in the BSE filing.

In the third quarter of the current fiscal year, CDEL's operating income was down 50.7 percent to Rs 267.53 crore. It was at Rs 542.38 crore at the same time a year earlier.

Though, in the latest December quarter, gross expenditures fell 44.7 % to Rs 413.63 crore. The same was at Rs 748.62 crore in the year-ago period.

In the quarter under review, the company's coffee and related market sales stood at Rs 123.72 crore as opposed to Rs 340.75 crore in the same period a year earlier.

The Securities and Exchange Board of India (Sebi) market regulator suspended trade of Coffee Day Enterprises (CDEL) shares from Monday, as the company failed to disclose unaudited financial results on time.

The company's shares were last traded on Saturday (1 February) as the market was open for the announcement of the budget.

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