GE Power India reports Rs 22 cr loss in Sept qtr
New Delhi, Nov 4 () GE Power India on Monday reported a consolidated net loss of Rs 22.32 crore for the September quarter of the ongoing fiscal, mainly due to one time charges for the period.
The company had posted a profit of Rs 5.2 crore in the year-ago quarter, a BSE filing said.
The company said an exceptional item of Rs 23.62 crore one-time provision was created on re-evaluating certain liabilities pertaining to past years.
Also, the company opted to take benefit from the lowering of corporate tax rate, due to which the effective tax rates will reduce by 9.3 per cent.
