Kirloskar Oil Engines reports Rs 6.73 crore net loss for June quarter

Kirloskar Oil Engines Ltd on Thursday reported a consolidated net loss of Rs 6.73 crore for the first quarter ended June 30, impacted adversely by the coronavirus pandemic.

The company had posted a net profit of Rs 47.13 crore in the corresponding period of the previous financial year, Kirloskar Oil Engines Ltd said in a regulatory filing.

Consolidated revenue from operations stood at Rs 422.33 crore. It was Rs 901.03 crore in the year-ago quarter, it added.

"Operations and financial results of the group for the quarter have been adversely impacted due to frequent lockdown imposed by central and state governments in various parts of the country to contain the spread of COVID-19," the company said.

 

Since the operation gradually but partially resumed during the quarter with limited availability of workforce and other resources, the results of the quarter are not comparable with those of the previous quarters, it added.

During the quarter, the company said its engines segment posted revenue of Rs 267.47 crore. It had posted Rs 689.18 crore revenue in the year-ago quarter.

Electric pumps recorded revenue of Rs 103.6 crore in the first quarter. The same was at Rs 159.08 crore in the corresponding period last year.