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Hindustan Organic Chemicals Ltd reported a net loss of Rs 41 crore in the fourth quarter ended March 31, 2016, as against a loss of Rs 48 crore in the year ago quarter.
For the full financial year ended March 31, 2016, the government of India enterprise reported a loss of Rs 173.77 crore (loss of Rs 215.49 crore in FY2015).
In the reporting quarter, net sales/ income from operations of the company were down to Rs 11.73 crore (Rs 68.81 crore in the year ago quarter).
Total expenses during the quarter declined to Rs 47 crore (Rs 102 crore). Finance costs were at Rs 18.52 crore (Rs 18.97 crore).
The company was declared as a ‘sick unit’ under the Board for Industrial and Financial Reconstruction in July 2015. It has submitted revival plan with the administrative ministry in September 2015.
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