Windsor Machines Reports Rs 1,605.88 Lakh Net Loss in Q1 Amid Plant Relocation Costs
Windsor Machines Limited reported a standalone net loss of Rs 1,605.88 lakhs for Q1 FY24, compared to Rs 869.45 lakhs loss in the previous quarter. Revenue from operations declined 16% to Rs 6,960.46 lakhs. The increased loss was primarily due to Rs 1,161.61 lakhs in exceptional costs related to relocating manufacturing facilities from Vatva and Chhatral to Rajkot. On a consolidated basis, the company reported a net loss of Rs 1,053.77 lakhs. Windsor Machines recently acquired Global CNC Pvt Ltd and received partial payment of Rs 3,000 lakhs from an inter-corporate loan settlement.
Windsor Machines Ltd. released its Q4 financial results, showing improved performance. The company's consolidated net loss decreased to ₹41.00 crore from ₹75.00 crore year-over-year, a 45.33% reduction. Revenue increased by 13.21% to ₹120.00 crore from ₹106.00 crore in the same quarter last year. This improvement suggests potential enhancements in operational efficiency and cost management, although the company continues to operate at a loss.