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Videocon Industries today reported a standalone net loss of Rs 189.59 crore for the March quarter, dragged down by lower sales and higher finance costs.
The company had posted a net profit of Rs 10.46 crore in the January-March period of 2014-15, Videocon Industries said in a BSE filing.
Standalone net sales declined 10.1 per cent to Rs 2,768.07 crore in January-March against Rs 3,079.27 crore a year ago.
During the quarter, the company said consumer electronics and home appliances vertical had earned a revenue of Rs 2,682.61 crore compared with Rs 2,851.30 crore a year ago, down 5.91 per cent.
Revenues from crude oil and natural gas business fell 62.53 per cent to Rs 87.83 crore from Rs 234.41 crore. Finance costs were at Rs 598.43 crore against Rs 591.35 crore in the year-ago period.
Videocon Industries shares were trading 1.74 per cent up at Rs 105.20 in the afternoon session on the BSE.
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