Assistant Editor, IndianRetailer.com & Retailer Media Jan 09, 2018 /
Debt-ridden Videocon Industries today reported widening of net loss to Rs 1,033.69 crore for the second quarter ended September 30, 2017.
It reported a net loss of Rs 403.66 crore for the July-September quarter of 2016-17 fiscal, Videocon Industries informed BSE.
Its total income declined 68.30 per cent to Rs 855.77 crore during the quarter under review as against Rs 2,700.08 crore in the corresponding period previous fiscal.
Videocon Industries' total expense during the period was at Rs 1,997.35 crore as against Rs 3,212.00 crore.
Revenue from consumer electronics and home appliance segment was down 71.94 per cent to Rs 713.79 crore as against Rs 2,544.24 crore.
Its crude oil and natural gas segment was up 1.76 per cent to Rs 103.57 crore as against Rs 101.77 crore.
For the first half of 2017-18, Videocon Industries' standalone net loss widened to Rs 1,919.51 crore as against Rs 772.41 crore of the corresponding period.
Its total income during April-September was at Rs 2,497.88 crore as against Rs 5,589.02 crore of the corresponding period previous fiscal.
The deal with Samsung is valued at Rs 25 crore per year, according to sources. Mumbai Indians (MI) is the only team in the league that has won the IPL three times and 100 T20 matches.
The principal bench has directed to list immediately the matter once affidavit is filed by Videocon Industries.
Debt ridden Videocon was unable to sustain production of several brands due to working capital crisis and consequently the Philips television range had almost vanished from the market in last few months.
The order passed by ED on May 26 last year but previously not reported assumes significance since the inquiries revolved around loans disbursed and investments made by Videocon overseas company, Tusker Overaeas Inc.
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