Force Motors reports net loss of ₹64.99 cr in Q1
1 min read . Updated: 10 Aug 2020, 04:25 PM ISTForce Motors' revenue from operations during the period under review stood at ₹185.40 crore, the same was at ₹802.48 crore in the year-ago quarter
Force Motors on Monday reported a consolidated net loss of ₹64.99 crore in the first quarter ended June 30, adversely impacted by the coronavirus pandemic.
The company had posted a consolidated net profit of ₹26.17 crore in the same period last fiscal, Force Motors said in a regulatory filing.
Revenue from operations during the period under review stood at ₹185.40 crore. The same was at ₹802.48 crore in the year-ago quarter, it added.
The outbreak of COVID-19 pandemic has already had a very adverse effect on the operations of the company. It has severely impacted the revenue and profitability during the last quarter of the previous financial year as well as the current quarter ended June 30, it added.
"Therefore the results for the quarter ended June 30 are not comparable with the corresponding period," Force Motors said.
This story has been published from a wire agency feed without modifications to the text.
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