Max India – Poor performance continues

Max India posted net loss of Rs 2.37 crore for the quarter ended March 2010 compared to 6.76 crore in the corresponding pervious period. The net loss during the quarter is primarily on the back of poor operational performance while that of in the corresponding previous period was due to one time expenses. Total income from operations rose by 7% to Rs 97.35 crore. Operating profit margins contracted by 310 bps to 6.9% resulting operating profit to decline by 26% to Rs 6.72 crore. With increase in the interest cost and depreciation by 39% to Rs 6.06 crore and 13% to Rs 3.33 crore, the company has posted losses at PBT level itself at Rs 0.62 crore compared to profit of Rs 2.27 crore in the corresponding pervious period.

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