Refex Renewables & Infrastructure Q2 loss widens to Rs 9.66 crore

Refex Renewables & Infrastructure on Friday reported widening of its consolidated net loss to Rs 9.66 crore in the September quarter, mainly due to lower revenues.

The consolidated net loss of the company stood at Rs 3 lakh in the quarter ended September 30, 2021, a BSE filing showed.

Total income dipped to Rs 12.08 crore in the quarter from Rs 15.89 crore in the same period a year ago.

The board also approved borrowing an amount of up to Rs 40 crore (which together with existing approved borrowing of Rs 30 crore, aggregates to Rs 70 crore) by way of unsecured loan from Sherisha Technologies Private Ltd, a promoter and related party of the company, in one or more tranches, on an arms' length basis, in order to repay the outstanding borrowings from its subsidiary companies and other body corporates.

The board also approved reappointment of A Mohan Kumar as the Secretarial Auditor for conducting the secretarial audit of the company for the financial year 2022-23.