Transformers and Rectifiers (India) reports Rs 3.6 crore loss for Q1

Transformers and Rectifiers (India) on Monday reported a consolidated net loss of Rs 3.6 crore for June quarter 2020-21 mainly due to lower revenues

Transformers and Rectifiers (India) on Monday reported a consolidated net loss of Rs 3.6 crore for June quarter 2020-21 mainly due to lower revenues.

It had a consolidated net profit of Rs 68 lakh in the same quarter of the previous fiscal year, the company said in a BSE filing.

Total income of the company declined to Rs 115.86 crore in the quarter under review from Rs 185.83 crore in the same period last year.

The company has an order book of Rs 1,068 crore as on September 1. Total order input during the quarter is around Rs 143 crore.

It said the COVID-19 pandemic caused interruption in production, supply chain disruption, unavailability of personnel, etc. during the lockdown period.

In assessing the recoverability of inventories, the company has considered the latest cost of buying, customer orders on hand and margins.

Production activities were ramped up from June 20 onwards along with all proactive majors for the safety of employees. Further from July 20 onwards, production activities are seen nearing pre- COVID-19 levels, it added.

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