Indo Rama Synthetics (India) on Monday posted a net loss of Rs 26.10 crore for the first quarter ended June 30, due to high foreign exchange losses as against a net profit of Rs 51.44 crore during the same period of previous fiscal.
Net sales however, rose to Rs 754.13 crore during the current quarter as compared to Rs 620.65 crore the company said in a BSE filing.
During the quarter under review, the company reported a loss of Rs 105.05 crore due to foreign currency fluctuation loss compared with a loss of Rs 5.18 crore during the corresponding period of last year.
Shares of Indo Rama Synthetics today closed at Rs 23.25 on the BSE, up 2.42 per cent from its previous close.