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Saturday, November 15, 2014
MARG LTD: Q2FY15 Result Analysis
Marg Ltd came out with pathetic set of numbers for the Q2FY15. The total income of the company decreased substantially to Rs.46.53 Cr as against Rs.66.77 Cr in the corresponding quarter previous year and Rs.40.31 Cr in Q1FY15.
Though the net loss before other income, finance cost and exceptional item decreased to Rs.4.03 Cr as compared to Rs.10.48 Cr in Q1FY15, but the finance cost rose to alarming levels of Rs.59.73 Cr during this period, making the company technically insolvent.
Moreover, as a result of this jump in the Finance Cost, the net loss of the company increased to Rs.62.97 Cr in Q2FY15 as compared to Rs.31.95 Cr in Q2FY14 and 49.48 Cr in Q1FY15.
The investors are suggested to exit the stock of Marg Ltd (Rs.14.10) on any rise/rallies. Please avoid taking fresh positions, till the cloud over open offer (buy back of shares) is removed.