Heavy operational expenditure and a sharp depreciation of rupee have jointly made Finolex Industries post a net loss of Rs 37.89 crore during the financial year 2008-09.
The loss comes when the company income grew by 3.55 per cent to Rs 1,735 crore during the year against Rs 1,675.5 crore posted a year back, the company said in a filing to the Bombay Stock Exchange (BSE).
During the fourth quarter of the 2008-09 financial year, the Pune-based company's revenues shrunk to Rs 446.23 crore, a dip of 11.56 per cent over Rs 504.6 crore posted over the corresponding quarter of the 2007-08 financial year.
Interestingly, the net profit increased to Rs 33.04 crore during the quarter as compared to Rs 1.21 posted over the same period in the previous year, the statement said.
