As the economy opened and operations resumed partially, fuel price and other expenses were higher than the revenue the company was generating, resulting in losses for FY21 and FY22. The latest results — for Q1FY23 — showed a significant spike in revenue, at Rs 12,855 crore, which shows an increase in demand (QoQ basis). Profit after tax (PAT) for the quarter was still negative (it was -Rs 1,064 crore) as two major costs, an increase in fuel expense and foreign exchange loss, among others, have affected the profitability, even though revenue increased.
$1.3 billion bet! FPI dollars chased just these 4 sectors in November; what’s likely in December?
The consumer services sector attracted maximum inflows in November to the tune of Rs 4,370 crore, after witnessing outflows of Rs 185 crore in October.
December 11, 2023