Hindustan Organic Chemicals’ Q2 loss widens to Rs.48.08 crore

Kolkata, Nov 12 (IANS) State-owned Hindustan Organic Chemicals on Thursday said its net loss for the second quarter ended September 30 widened to Rs.48.08 crore as against a loss of Rs.40.06 crore in the similar quarter of 2014-15.

Although its revenues rose, expenses — primarily employees benefit expenses — pulled down its margins.

The net revenue from operations for the July-September period rose substantially by 212.73 percent at Rs.27.02 crore as against Rs.8.64 crore in the corresponding period of 2014-15.

However, net expenses widened to Rs.59.18 crore — a jump of 43.02 percent — from the former Rs.41.38 crore during the second fiscal quarter of 2014-15.

Employees benefit expenses under this overhead stood at Rs.26.24 crore as compared to Rs.26.02 crore in the year-ago period.

The finance costs also increased substantially by 64.72 percent during the quarter at Rs.16.62 crore from the former Rs.10.09 crore during July-September months of 2014-15.

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