Companies

Karuturi Global net dives 77%

Our Bureau Bangalore | Updated on August 13, 2013 Published on August 13, 2013

Karuturi Global Ltd, impacted by exchange loss on restatement of FCCB liability, has posted 76.78 per cent lower profits at Rs 3.61crore on consolidated basis for the first quarter of fiscal 2013-14 against Rs 15.55 crore in the same period last year.

The company’s income from operations is higher by 9.26 per cent to Rs 135.44 crore in Q1 compared with Rs 123.96 crore in the same period last year.

EPS stood at 5 paise compared with 25 paise recorded last year. In a disclosure, company said during the quarter the profit is lower by Rs 18.84 crore on account of exchange loss on restatement of FCCB liability (borrowed at an exchange rate of Rs 39.73 per dollar and the current restatement rate is Rs 59.70 per dollar).

Published on August 13, 2013
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