Borosil Renewables Narrows Net Loss, Plans Fundraising
Borosil Renewables reported a reduced net loss of Rs 29.52 crore in the March quarter, supported by increased revenues. The company plans to seek shareholder approval to raise up to Rs 500 crore. Additionally, Ashok Jain will transition to a non-executive director role after his current term ends.
- Country:
- India
Borosil Renewables has narrowed its consolidated net loss to Rs 29.52 crore for the March quarter, thanks to higher revenues.
The company had incurred a net loss of Rs 53.32 crore in the same quarter of the previous year, as revealed in a regulatory filing. The total income surged to Rs 385.44 crore from Rs 287.83 crore a year ago.
The board has greenlit a proposal to seek shareholder approval for raising up to Rs 500 crore in funds through various modes. Additionally, Ashok Jain is set to become a non-executive director after completing his term as whole-time director on July 31, 2025.
(With inputs from agencies.)
- READ MORE ON:
- Borosil
- Renerwables
- Net Loss
- Revenue
- Shareholders
- Fundraising
- Ashok Jain
- Director
- March Quarter
- AGM
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