Religare Enterprises Q3 loss widens to Rs 11.72 crore

On consolidated basis, Religare Enterprises posted a loss of Rs 95.54 crore for the third quarter, as against loss of Rs 250.50 crore in the same period a year ago.

Religare Enterprises on Friday said its standalone net loss has widened to Rs 11.72 crore in the third quarter of the current fiscal.

The company had registered a net loss of Rs 1.55 crore in the October-December quarter of the previous fiscal.

The total income during the quarter was flat at Rs 8.5 crore, Religare Enterprises said in a regulatory filing.

Total expenses swelled to Rs 20.28 crore, as against Rs 10.7 crore earlier, it said.

On consolidated basis, Religare Enterprises posted a loss of Rs 95.54 crore for the third quarter, as against loss of Rs 250.50 crore in the same period a year ago.

The company continues to be barred from declaring dividends as per RBI letter issued in December, 2019.

NBFC has not raised any funds through the public issue, rights issue or preferential issue during the quarter ended December 31, 2022, it said.

The company has given a letter of comfort to Religare Comtrade Limited, a wholly-owned subsidiary to provide financial support to it, the filing said, adding, the company has booked a financial liability of Rs 1,087.26 lakhs till December 31, 2022.