Gammon India Q2 net loss at Rs 39.44 cr

Infrastructure major Gammon India today reported a net loss of Rs 39.44 crore for the July- September quarter, largely due to flat sales and increased finance costs.

The company had reported a net profit of Rs 4.13 crore during the corresponding period of the previous fiscal.

Net sales of the company declined marginally by 1.41 per cent to Rs 1,086.18 crore during the quarter vis-a-vis Rs 1,101.72 crore of the second quarter of FY'12, it said in a filing to the BSE.

Besides, its finance costs increased by over 22 per cent to Rs 104.42 crore during the quarter, while its expenditure went up by 1.42 per cent to Rs 1,052.18 crore.

The company also reported a forex loss of Rs 1.72 crore during the quarter due to fluctuations in dollar-rupee exchange rate.

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