Vishal Retail Q4 loss rises

Vishal Retail on Tuesday reported a 12.38 per cent rise in its net loss for the March quarter to Rs 128.93 crore, amidst its struggle to overcome the huge debt burden.
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Vishal Retail on Tuesday reported a 12.38 per cent rise in its net loss for the March quarter to Rs 128.93 crore, amidst its struggle to overcome the huge debt burden.

 

The company had a net loss of Rs 114.73 crore during the same quarter previous fiscal.

Its total income, however, registered a growth of 9.34 per cent during the fourth quarter at Rs 254.64 crore as against Rs 232.89 crore in the same quarter of 2008-09.

 

The Delhi-based retailer is currently undergoing a corporate debt restructuring (CDR) exercise to make it eligible for fresh injection of equity following a severe credit crunch last year.

 

The retailer has debts worth Rs 735 crore and its dozen-odd lenders have been undertaking the CDR to make it eligible for fresh injection of equity.

 
 
 
 
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