RattanIndia Enterprises Q2 FY22 net loss stands at Rs 4 cr

On a consolidated basis, RattanIndia Enterprises' net loss stood at Rs 4.47 crore in Q2 FY22 as compared to a net profit of Rs 0.05 crore in Q2 FY21.

Consolidated revenue from operations stood at Rs 0.53 crore in Q2 September 2021. The result was announced after market hours on Wednesday, 3 November 2021.

The domestic stock markets remained closed on Thursday, 4 November 2021, on account of Diwali Laxmi Pujan. However, BSE and NSE was active from 6:15 PM to 7:15 PM on account of Mahurat Trading session (Samvat 2078). The bourses also remained shut on Friday, 5 November 2021, on account of Diwali Balipratipada.

Seperately, RattanIndia Enterprises (REL) acquired 100% stake of Cocoblu Retail consequent to which, it has become a wholly owned-subsidiary company of REL. Cocoblu Retail intends to start retail business on online E-commerce platforms.

The online retail witnessed an explosive growth in the country and hence, REL has decided to acquire 100% stake of Cocoblu Retail. The all-cash deal is worth Rs 1 lakh and is expected to be completed by within a period of 0-6 months.

RattanIndia Enterprises is the flagship company of Rattanindia Group for its new age growth businesses. The company has forayed into electric mobility space through Revolt Motors to democratize clean commute using next-gen mobility solutions. The company is completely focused on providing world class electric mobility products which are affordable and accessible to every Indian.

Shares of RattanIndia Enterprises lost 0.55% to close Rs 45.20 on BSE in the special one-hour Muhurat trading session on Thursday, 4 November 2021.

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