SKIL Infra standalone Q4 net loss at Rs 164 cr

SKIL Infrastructure today reported widening of its net loss to Rs 164.10 crore for the fourth quarter ended March 31, 2016 on a standalone basis.
The company had reported a net loss of Rs 128.22 crore during the corresponding quarter of 2014-15.
The company did not give consolidated quarterly figures.
For the whole year, it reported a net loss after taxes, minority interest and share of profit/loss from associates at Rs 483.03 crore.
It had reported a net loss of Rs 377.07 crore in 2014-15.
Company's total income during the year declined to Rs 18.73 crore as against Rs 82.82 crore in 2014-15.

The total expenses during the last fiscal declined to Rs 42.18 crore as against Rs 102.95 crore in 2014-15.

"The Board took note that after the company ceased to be promoter of Reliance Defence and Engineering(erstwhile Pipavav Defence and Offshore Engineering Co), there has been an invocation by Religare Finvest of 1,26,73,913 shares held by the company in RDEL on March 17, 2016 and invocation by India Infoline Finance of 32,41,724 shares held by the company in RDEL on April 26," it said in a BSE filing.
The shares have been invoked in exercise of right under the facility agreement for security provided by the company for loan taken by Pipavav Engineering and Defence Ltd and E Complex Pvt Ltd respectively, it said.

"Though there has been a delay in total consummation of the ADAG-RDEL-SKIL Infrastructure Ltd deal, the company on standalone basis has been able to bring down the outstanding secured borrowing from Rs 1,249 crore on March 31, 2015 to Rs 837 crore as on March 31, 2016," it added.
The shares of the company closed 2.65 per cent up at Rs 21.95 a scrip on BSE.