Amtek Auto loss widens to Rs 889 cr

Auto components maker Amtek Auto Ltd today reported widening of standalone loss to Rs 889.58 crore for the first quarter ended June 30, hit by exceptional inventory losses.

The debt-ridden firm had posted a standalone net loss of Rs 319.68 crore in the same period previous finacial year, Amtek Auto said in a BSE filing.

The company said exceptional items of Rs 504.91 crore primarily includes losses arising from corrective action taken for inventory. 

Total income from operations during the quarter under review stood at Rs 446.84 crore as against Rs 576.49 crore, down 13.44 per cent.

Amtek Auto said during the quarter it