McDowell Holdings, a holding company under the UB Group, today reported a net loss of Rs 16.8 lakh for the second quarter ended September 30, 2008 compared to a net profit of Rs 48.11 lakh reported in the corresponding quarter last year.
Its income from operations for the quarter stood at Rs 78.58 lakh, a marginal growth of 8.7 per cent over the corresponding quarter last fiscal, the company said in a release to Bombay Stock Exchange.
The company has filed an application with Reserve Bank of India seeking registration as non-banking (non-deposit taking) financial company.
