The loss during the quarter widened on account of increased input costs, stated the company in its filing.
The company informed that there has been a significant increase in total expenses to Rs1,568.92 crore in Q1FY23 as against Rs1,313.94 crore in Q1FY22.
The company further stated that the total income witnessed a decline of ~1.30% at Rs1,211.06 crore in Q1FY22 as compared to Rs1,227.20 crore in the previous corresponding quarter.
Post this development, Sterling & Wilson’s counter remained dim so far in today’s trade. It registered a downside of 5.90% at Rs290.95, against its previous close of Rs309.10 on NSE. So far, it hit an intraday low of Rs284.15.
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