Stock Market

Videocon Industries Q1 loss widens to Rs 2,874 crore

   Download Android App    Share in      FullScreen   CheckVideos

New Delhi: Videocon Industries' standalone net loss widened to Rs 2,874.21 crore for April-June 2018-19 as against a loss of Rs 885.82 crore in the year-ago period due to write off of certain loans and advances of Rs 1,413.35 crore. Total income in the reported quarter stood at Rs 272.25 crore.

It was Rs 1,642.11 crore in the year-ago quarter, Videocon Industries said in a BSE filing. It said revenue from operations, part of total income, for April-June 2017 is inclusive of excise duty.

Consequent to applicability of GST with effect from July 1, 2017, revenue from operations are shown net of GST. The company said it has written off certain loans and advances aggregating to Rs 1,413.35 crore and the same is shown as exceptional items during the quarter. The said exercise for other current assets is continuing, it added. On June 6 this year, National Company Law Tribunal (NCLT), Mumbai bench, admitted a petition for initiating insolvency resolution process against the company under the Insolvency and Bankruptcy Code, 2016. Shares of Videocon Industries settled 4.55 per cent down at Rs 5.45 apiece on BSE.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Stock Market


21