Latest News | BASF India Q1 Net Loss Widens to Rs 29.15 Cr

New Delhi, Aug 6 (PTI) BASF India on Thursday reported widening of its net loss to Rs 29.15 crore in the first quarter of current fiscal due to higher expenses.

The company had posted a net loss of Rs 8.2 crore in the same quarter of previous fiscal, it said in a regulatory filing.

Also Read | Amit Shah Remembers Sushma Swaraj on Her Death Anniversary Today, Says Her Ideals Will Continue to Inspire Generations to Come.

Net revenue rose to Rs 1,769.7 crore in April-June quarter of fiscal year 2020-21 from Rs 1,613.7 crore in the corresponding quarter a year ago.

Expenses increased to Rs 1,809.4 crore in the quarter under review from Rs 1,601.6 crore in the year-ago period.

Also Read | Siddaramaiah Health Update: Former Karnataka CM, Who Tested Positive for COVID-19, Is Now Stable and Comfortable, Says Manipal Hospital.

The company said its operations were impacted during the June quarter due to lockdown and other emergency measures imposed by governments in view of the COVID-19 pandemic.

"...However, the impact assessment of COVID-19 is a continuing process given the uncertainties associated with its nature and duration and accordingly the impact may be different from that estimated as at the date of approval of these financial results," it said.

The company will continue to monitor any material changes to future economic conditions, it said, adding that BASF India has resumed operations in a phased manner in line with directives from the authorities.

Shares of BASF India on Thursday settled 5.50 per cent lower at Rs 1,337.20 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)