Aequs, a precision engineering and manufacturing company, has reported a net loss of Rs 54 crore for the fourth quarter of the fiscal year. The company's financial performance was impacted by a decline in sales and an increase in operating expenses. Revenue from operations fell to Rs 200 crore from Rs 250 crore in the same quarter last year, representing a 20% drop.
Financial Highlights
The company's total income for the quarter stood at Rs 210 crore, down from Rs 260 crore in the corresponding period of the previous fiscal. Expenses rose to Rs 270 crore, compared to Rs 240 crore in the year-ago quarter, driven by higher raw material costs and employee benefit expenses. The net loss for the quarter was Rs 54 crore, against a net profit of Rs 10 crore in the same quarter last year.
Segment Performance
The company's aerospace and defense segment saw a decline in revenue due to supply chain disruptions and lower order inflows. The industrial and consumer goods segment also faced headwinds, with demand remaining subdued. The company's management attributed the weak performance to macroeconomic challenges and elevated input costs.
Outlook
Despite the challenging quarter, Aequs remains optimistic about the long-term prospects. The company is focusing on cost optimization and operational efficiency to improve margins. It is also exploring new opportunities in the aerospace and defense sector, both domestically and internationally. The management expects a gradual recovery in demand in the coming quarters, supported by government initiatives and infrastructure spending.
