Sanghi Industries Q2 Results: Posts Operating Profit Vs Loss In Comparable Quarter

Sanghi Industries Ltd. reported earnings before interest, tax, depreciation and amortisation of Rs 3.1 crore in the quarter ended September, compared with an operating loss of Rs 27.9 crore in the comparable quarter a year ago.

The company reported a net loss of Rs 196 crore in the quarter, up from a loss of Rs 38.8 crore a year ago. The higher loss was on account of an exceptional loss of Rs 121.1 crore in Jul-Sep. In the same quarter last year, the company had reported an exceptional gain of Rs 90.1 crore.

The exceptional loss in the quarter gone by was a provision for pending litigation and disputed matters, the company said in its notes to accounts.

The cement manufacturer reported a topline of Rs 152 crore for the quarter-ended September, compared with Rs 181 crore in the same quarter last year.

Sanghi Industries is a subsidiary of Ambuja Cements Ltd.

• Revenue down 16.5% to Rs 152 crore versus Rs 181 crore

• Ebitda stood at Rs 3.1 crore versus loss of Rs 27.9 crore

• Net loss stood at Rs 196 crore versus loss of Rs 38.8 crore

Shares of Sanghi Industries closed 0.44% lower at Rs 76.57 apiece on Friday, as compared with a 0.83% decline in the benchmark Sensex.

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