trending Market Intelligence /marketintelligence/en/news-insights/trending/FrU_vxhwgsPYBTMfqrOhrQ2 content esgSubNav
In This List

Tilaknagar Industries swings to loss in fiscal Q2

Podcast

Next in Tech | Episode 66: Connected vehicles in transition

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten


Tilaknagar Industries swings to loss in fiscal Q2

Tilaknagar Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 3.47 Indian rupees per share, compared with 4 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 443.2 million rupees, compared with income of 5.2 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 45.2% from 0.3% in the year-earlier period.

Total revenue fell 39.0% on an annual basis to 979.7 million rupees from 1.61 billion rupees, and total operating expenses declined from the prior-year period to 1.33 billion rupees from 1.39 billion rupees.

Reported net income came to a loss of 709.1 million rupees, or a loss of 5.55 rupees per share, compared to income of 5.6 million rupees, or 4 paise per share, in the year-earlier period.

As of Nov. 10, US$1 was equivalent to 66.24 Indian rupees.