Shalimar Paints Q1 results: Co posts net loss at Rs 20 Cr

New Delhi: Shalimar Paints NSE 4.44 percent announced on Monday that its consolidated net loss for the June quarter 2021-22 increased to Rs 19.5 crore due to the impact of rising raw material prices. In a regulatory filing, Shalimar Paints reported a loss of Rs 10.6 crore for the April-June quarter a year ago.

During the quarter under review, revenue from operations increased by 46.51 percent to Rs 65.2 crore, compared to Rs 44.5 crore in the previous quarter.

“Over the last few quarters, the company has suffered the impact of rising raw material costs. In addition, there has been a considerable disruption in transportation facilities, which has resulted in a rise in freight costs. All of these things have influenced our profitability, “Gupta explained.

On the BSE, Shalimar Paints closed at Rs 99.30, down 2.12% from the previous close.