Sterling and Wilson Solar reports Rs 76 cr loss in June quarter

Sterling and Wilson Solar on Saturday reported a consolidated net loss of Rs 76.02 crore for the June quarter against a net profit of Rs 17.22 crore in the quarter ended on June 30, 2020.

Total income of the company rose to Rs 1,227.20 crore in the quarter under review from Rs 1,099.38 crore in the same period a year ago, according to a regulatory filing by the company.

“Other expenses during the quarter ended 30 June 2021 include forward contract cancellation charges aggregating to Rs 80.46 crores. A few of these contracts, with a corresponding cost of Rs 49.15 crores, have been re-booked during the quarter, as the corresponding revenue against such forward contracts is to be accrued in subsequent periods.”