CG Power and Industrial Solutions has reported a net loss of ₹1,595.21 crore in the September-ended quarter from a loss of ₹101.83 crore a year ago.
Total income of the troubled company went down to ₹1,548.50 crore in Q2 of this fiscal from ₹2,115.27 crore a year ago, according to a filing in the exchanges. The company had earlier informed the exchanges about the delay in submission of the financial results for the first and second quarter.
CG Power said that a few notices were returned undelivered and a few could not be sent for want of requisite details. “In view of the same, the group has made a provision for such outstanding amount due from third parties/ unrelated parities aggregating to ₹963.91 crore in the unaudited consolidated numbers for the quarter ended 30 September, 2019,” it said. The group will continue with the recovery process for the said receivables, it added.
