IVRCL Q3 net loss widens to Rs 303 cr

Hyderabad-based infrastructure company IVRCL has reported net loss of Rs 303.85 crore for the quarter ended December, 2015, a 76.98 per cent rise compared with a net loss of Rs 171.68 crore in the corresponding quarter previous year.

The expenditure continued to outstrip the revenues on top of finance costs contributing to these losses. For the quarter under review the company's total income stood at Rs 448.12 crore, a 30.5 per cent decline over Rs 644.87 crore revenue in the corresponding previous quarter.

It may be recalled that the strategic debt restructuring  (SDR) was invoked by the joint lenders forum during this quarter. On a sequential basis,the net loss in this quarter was marginally down compared with a net loss of Rs 305.46 crore in the quarter ended September, 2015. This was despite a 30 per cent decline in the top-line compared with Rs 641 crore revenues in the September quarter.