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VRL Logistics posts Q1 net loss at Rs 63 cr

Capital Market 

On a standalone basis, VRL Logistics reported net loss of Rs 62.71 crore in Q1 June 2020 as against net profit of Rs 27.45 crore in Q1 June 2019.

Standalone net sales slumped 70.3% to Rs 160.09 crore in Q1 June 2020 compared with Rs 539.64 crore in Q1 June 2019. Pre-tax loss stood at Rs 83.81 crore in Q1 June 2020 as against pre-tax profit of Rs 42.42 crore incurred in Q1 June 2019. The Q1 earnings were announced after trading hours on Friday, 14 August 2020.

Due to COVID-19 pandemic and the consequent lockdown across the country, the VRL Logistics' operations and financial results for the quarter have been impacted. The company has resumed operations partially in a phased manner as per Government directives.

Shares of VRL Logistics rose 1.47% to Rs 152.15 on BSE. VRL Logistics provides goods and passenger transportation services.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, August 17 2020. 12:25 IST