 "IVRCL Q3 loss narrows 18% to Rs 249 crore")
Hyderabad-based construction company IVRCL, which is under strategic debt restructuring (SDR), has reported a 18.5 per cent decline in a net loss at Rs 249.27 as compared to a net loss of Rs 307.16 crore in the corresponding quarter previous year.
Total income from operations during the quarter under review declined 11.21 per cent at Rs 397.88 crore from Rs 448.13 crore in the corresponding previous quarter.
Total expenses fell 19 per cent to Rs 479.88 crore from Rs 590.18 crore in the year ago period.
For the nine-month period ending December 2016, the company's net losses decreased to Rs 755.59 core as compared to Rs 802.33 crore in the year ago period.
The accumulated losses stood at Rs 2,768.10 crore for the 9-month period.
Total income from operations during the quarter under review declined 11.21 per cent at Rs 397.88 crore from Rs 448.13 crore in the corresponding previous quarter.
Total expenses fell 19 per cent to Rs 479.88 crore from Rs 590.18 crore in the year ago period.
For the nine-month period ending December 2016, the company's net losses decreased to Rs 755.59 core as compared to Rs 802.33 crore in the year ago period.
The accumulated losses stood at Rs 2,768.10 crore for the 9-month period.
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