Indo Rama Net Loss At Rs 84.23 Cr In FY17

Company Performance

Indo Rama Net Loss At Rs 84.23 Cr In FY17

Q4 FY17 Results (Comparisons with Q4 FY16)

- Net Revenue at Rs 609.81 crore vis-à-vis Rs 722.28 crore

- Operational EBIDTA at Rs 9.86 crore vis-a-vis Rs 29.75 crore

- Net Loss at Rs 15.03 crore vis-à-vis Net Profit of Rs 88.63 crore

Indo Rama Synthetics (India) Limited, India's largest dedicated polyester manufacturer, earned a net revenue of Rs 609.81 crore during Q4FY17, against Rs 722.28 crore in Q4FY16. The operational EBIDTA for the period stood at Rs 9.86 crore as compared to Rs 29.75 crore in the corresponding quarter in the previous year. The net loss for the quarter ended March 31, 2017 is Rs 15.03 crore against net profit of Rs 88.63 crore in the corresponding quarter in the previous year.

For the financial year ended March 31, 2017, the net revenue stood at Rs 2,729.57 crore as compared to Rs 2,791.15 crore in the previous year. The operational EBIDTA is Rs 23.76 crore as compared to Rs 89.94 crore in the last fiscal year. The net loss of the company is Rs 84.23 crore for the current financial year as against net profit of Rs 37.03 crore during the last financial year. O. P. Lohia, Chairman & Managing Director, Indo Rama Synthetics (India) Ltd. said, "We are on verge of witnessing much awaited GST and with this fibre neutrality is likely to be growth stimulator for the polyester industry."