Silverline posts Rs 6.47 cr loss in Q1

MUMBAI: Silverline Technologies Ltd has posted a net loss of Rs 6.47 crore for the quarter ended September 30, 2002, compared to a net profit Rs 13.88 crore in the quarter ended September 30, 2001. Total income of the company has decreased from Rs 50.12 crore in the year-ago period to Rs 6.23 crore in the quarter ended September 30, 2002.

Silverline recorded a net profit of Rs 13.16 crore for the quarter ended March 31, 2002, down 42.91 per cent, compared to Rs 23.05 crore for corresponding period previous fiscal. Total income decreased from Rs 67.09 crore to Rs 44.84 crore.

The Silverline board, pursuant to operational and organizational restructuring undertaken by the company and business combinations/acquisitions affected by it, on April 30, 2002, decided to extend the accounting year from March 31, 2002 to June 30, 2002. Hence, its fiscal is for a 15 months period from April 1, 2001-June 30, 2002.

Source: IRIS