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Texmaco posts Q4 loss of Rs3.5 crore

LiveMint logoLiveMint 21-05-2014 MANISH BASU

Kolkata: Texmaco Rail and Engineering Ltd, a wagon maker, on Wednesday said it had posted a loss of Rs3.5 crore in the March quarter as against a profit of Rs8.85 crore in the same period a year ago because of “an unprecedented delay in release of wagon orders by Indian Railways”.

Saroj Poddar’s Adventz Group-controlled Texmaco’s revenue during the March quarter at Rs91.72 crore was 54.3% lower compared with last year. For the full year, the company’s net profit was at Rs16.97 crore versus Rs94.26 crore for fiscal 2012-13.

The firm’s performance was impacted by paucity of orders, and its wagon manufacturing capacity remained unutilized for the full year, Texmaco said in a statement, adding that it has lately received an order for 2,400 wagons—the biggest in the industry.

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