Reliance Defence and Engineering Q1 standalone loss widens to Rs230.4 crore
New Delhi: Anil Ambani-led Reliance Defence and Engineering Ltd on Tuesday said its standalone net loss has widened to Rs230.4 crore for the quarter ended 30 June 2017.
The company had posted a standalone loss of Rs134.5 crore in the corresponding quarter of the previous fiscal, Reliance Defence and Engineering said in a filing to the BSE. However, the company’s standalone total revenue during April-June quarter increased to Rs231.7 crore, compared to Rs74.3 crore in the year-ago period.
The total expenses of the company increased to Rs152.3 crore, as compared to Rs68.6 crore in the corresponding quarter of the previous fiscal. The company also said its board, at a meeting held on Tuesday, has approved the appointment of Nikhil Jain as chief financial officer.
Shares of Reliance Defence and Engineering closed at Rs61.95 a piece on the BSE, down 0.64% from the previous close.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.