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Reliance Defence First Quarter Net Loss At Rs 134.50 Crore

Rel Defence total income from operations fell to Rs 70.34 cr against Rs 106.96 cr (YoY).

Commercial ship building project by Reliance Defence and Engineering Ltd (Source: reliancedefence.co)
Commercial ship building project by Reliance Defence and Engineering Ltd (Source: reliancedefence.co)

Reliance Defence and Engineering Ltd, on Saturday, reported a net loss of Rs 134.50 crore for the first quarter ended June 30, 2016-17. The company had reported a net loss of Rs 167.27 crore for the corresponding quarter in of 2015-16 fiscal.

Its total income from operations declined to Rs 70.34 crore in the first quarter of the current fiscal as against Rs 106.96 crore in the year-ago period. The company’s total expenses also declined to Rs 118.75 crore during the quarter. It had recorded total expenses of Rs 170.48 crore in the year-ago quarter.

“The company is engaged in the business of ship-building and repairs. As such, there are no separate reportable segments,” it said.