IVRCL Q2 net loss at Rs 123 cr on higher finance cost

Total expenses of the company rose 16% during the quarter under review to Rs 1,100 crore

Infrastructure company IVRCL Ltd on Thursday reported a net loss of Rs 122.49 crore for the second quarter ended September 2013, mainly due to increased expenses and higher finance cost.     

The Hyderabad-based construction company had logged a net loss of Rs 39.59 crore for the corresponding quarter of the last financial year.     

The total expenses of the company rose 16.27 per cent during the quarter under review to Rs 1,100 crore from Rs 946 crore in the corresponding period of the previous financial year.     

Revenues during the second quarter of 2013-14 increased to Rs 1,124.68 crore from Rs 994.72 crore in the year-ago period, IVRCL said in a filing with the BSE.