Reliance Defence Q1 net loss at Rs 134.50 crore

Reliance Defence and Engineering Ltd on Saturday reported a net loss of Rs 134.50 crore for the first quarter (Q1) of the financial year (FY) 2016-17.

The company had reported a net loss of Rs 167.27 crore for the corresponding quarter of the FY 2015-16.

Its total income from operations declined to Rs 70.34 crore in the Q1 of the current FY as against Rs 106.96 crore in the year-ago period.

The company's total expenses also declined to Rs 118.75 crore during the quarter. It had recorded total expenses of Rs 170.48 crore in the year-ago quarter.

"The company is engaged in the business of ship-building and repairs. As such, there are no separate reportable segments," it said.