Indosolar loss widens to Rs 40 cr

Indosolar Ltd's standalone net loss widened to Rs 39.87 crore in the first quarter ended on June 30, 2016-17.
It had reported net loss of Rs 25.01 crore for the April- June quarter of the last financial year 2015-16.
The company's total income from operations increased to Rs 93.84 crore in the first quarter of the current fiscal, compared to Rs 51.18 crore in the year ago period.
Indosolar said in a BSE filing today that it had recorded a net loss of Rs 141.27 crore in the financial year ended March 31, 2016. Its net loss in the January-March quarter last fiscal was Rs 29.77 crore.

Its finance cost or interest on borrowing was Rs 36 crore for the quarter under review as per the interest rate approved under CDR (Corporate Debt Restructuring) I package.
The company said the actual interest (cost) may vary after finalisation of proposal under consideration of the consortium of banks. The company had, during the year ended March 31, 2015,
made a reference to Board of Industrial and Financial Reconstruction on November 25, 2014 in accordance with the requirement of Sick Industrial Companies Act, 1985.