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.
Tech View: Nifty ends below 50-DEMA. What traders should do on Friday
A series of resistance could be seen from 22,150-22,200, followed by the 20 DEMA at 22,300 zone. The undertone certainly favours the bears now and
April 18, 2024