ITI Ltd June quarter loss widens to Rs 102 cr due to Covid-19 crisis

State-run telecom gear maker ITI Limited on Monday reported widening of its consolidated loss to Rs 102 crore for the June quarter, hit by the COVID-19 crisis.

The company had posted a loss of Rs 61 crore in the corresponding period of the preceding fiscal.

“The company has estimated from internal sources that there is a decrease of around more than 50 per cent in turnover… due to COVID-19. The recent Pandemic outbreak has brought about economic disruptions and uncertainties and ascertaining its impact is difficult,” ITI said in a BSE filing.

Consolidated revenue rose marginally to Rs 173.83 crore from Rs 170.59 crore in Q1 2019-20.