Indosolar posts revenue decrease in the third quarter of fiscal year
Post date: 19/02/2014
Indian solar cell manufacturer Indosolar Ltd. widened its net loss and saw it revenue decline in the third quarter of fiscal year 2014, which ended on Dec. 31, 2013. Net sales reached 2.79 crore INR ($448,128) in the latest quarter, down from 16.05 crore INR in the third quarter of last year. Net loss for the period increased to 31.32 crore INR, from a loss of 17.52 crore INR a year earlier.
The company also announces that CFO Anand Kumar Agarwal has resigned from the board of directors with effect of Feb. 13, 2014. Vidyut Manubhai Vora has been appointed as additional director in the category of Independent and Non Executive Director with effect of Feb. 13.