Latest News | Mawana Sugars Q2 Net Loss Widens to Rs 32.42cr
Get latest articles and stories on Latest News at LatestLY. Mawana Sugars on Monday said its consolidated net loss widened to Rs 32.42 crore during the second quarter of 2022-23 against a loss of Rs 18 crore in the year-ago quarter.
New Delhi, Nov 14 (PTI) Mawana Sugars on Monday said its consolidated net loss widened to Rs 32.42 crore during the second quarter of 2022-23 against a loss of Rs 18 crore in the year-ago quarter.
The company in a regulatory filing stated that total income rose on a consolidated basis to Rs 341.3 crore during the July-September quarter of the 2022-23 fiscal from Rs 336.12 crore in the year-ago period.
Expenses remained higher at Rs 384.98 crore as against Rs 356.74 crore in the said period.
As of September 30, 2022, the company had deferred tax assets of Rs 44.28 crore on unabsorbed depreciation and other items.
"Based on profits earned during the previous years, profitability projections, considering the expected future market and economic conditions, tax laws, the management is confident that there would be sufficient taxable profits in future which will enable the company to utilize the above-deferred tax assets on unabsorbed depreciation and other items," the filing added.
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