Seeds company Advanta India's net loss for the January-March or first quarter more than doubled to Rs 3.46 crore from Rs 1.29 crore in the year ago quarter as tax expense soared.
First quarter net sales of the United Phosphorus associate company were up 10.5% year-on-year to Rs 175.75 crore. The company’s other income during the quarter surged to Rs 3.65 crore from Rs 27.40 lakh in the year ago quarter.
The company’s tax expense, however, was up ten-fold to Rs 6.86 crore. Interest and financial charges for the quarter also rose 39.5% year-on-year to Rs 19.57 crore.
The company’s first quarter operational profit (before other income, interest and taxes) rose 33% from a year ago to Rs 19.32 crore.
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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