Borosil Renewables Q4 Results: Loss Narrows To Rs 29 Crore
The board also approved re-designation of Ashok Jain as non-executive director of the company.
Borosil Renewables' consolidated net loss narrowed to Rs 29.52 crore in the March quarter, mainly on the back of higher revenues. It reported a consolidated net loss of Rs 53.32 crore during the quarter ended on March 31, 2024, a regulatory filing showed. Total income during the quarter rose to Rs 385.44 crore from Rs 287.83 crore in the same period a year ago.
The board also approved the proposal for seeking approval of shareholders by way of an enabling resolution at the ensuing annual general meeting, authorising the board to raise funds, as and when required, up to Rs 500 crore, using such modes as the board may determine.
The board also approved re-designation of Ashok Jain as non-executive director of the company.
Ashok Jain shall be completing his present term as whole-time director and key managerial personnel of the company on July 31, 2025.
In view of the invaluable contributions made by him, the board of directors has approved Ashok Jain to continue as non-executive non-independent director from Aug. 1, 2025, on such remuneration as may be approved by the shareholders.
