Sterling -; Wilson nosedives ~6% as net loss widens to Rs356 crore

13 Jul 2022 , 12:07 PM

Sterling & Wilson Renewable Energy Limited announced its results for the quarter ended June 30, 2022. The company reported a Net Loss of Rs355.99 crore for the quarter under review, as against a loss of Rs76.02 crore in the previous corresponding quarter.

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.