Reliance Defence & Engineering’s financial results announced

Reliance Reliance Defence & engineering Ltd (RDEL) has reported its standalone revenue for the quarter ended March 31, 2017. Total sales for this quarter figured at Rs. 228 crore, registering 140.5% year-on-year increase.

Earnings Before Interest, Taxes, Depreciation & Amortization (EBIT) for the quarter came in at Rs. 44.2 core with referenced to the EBIT loss of Rs. 46.1 crore in the preceding quarter ending December 2016. In terms of the end result, the net loss of the company expanded to Rs. 140 crore as against net loss of Rs. 132 crore in previous quarter. The stock of RDEL opened today at Rs. 67 on the BSE, has declined by 3.07%, and is being traded now at Rs. 66.25.

Reliance Defence & engineering Ltd is engaged in activities in Commercial shipbuilding, Offshore fabrication and servicing, Naval War-Ship Building and Ship repairing.