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Gammon India reports ₹1,963 crore FY24 standalone loss and deeper negative net worth
As filed · Gammon India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2024.
EarningsDeterioratingMajormateriality 78 out of 100
What happened
FactGammon India’s board approved audited standalone and consolidated financial statements for the quarter and year ended March 31, 2024. On a standalone basis, the company reported a FY24 loss after tax of ₹1,963.00 crore, versus a ₹1,540.08 crore loss in FY23, while total equity stood at negative ₹9,496.34 crore as of March 31, 2024.
Why it matters
CapitSignal interpretationReported results are the point at which prior management commitments become checkable against audited or reviewed numbers.
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Fact- Margin trend against the prior period
- Cash from operations against reported profit
- Whether prior guidance is reaffirmed
Evidence
How CapitSignal classified this
- Reasoning:
- The annual loss increased by ₹422.92 crore year-on-year, while the company reported substantially negative standalone equity. Finance costs of ₹916.65 crore exceeded FY24 total income of ₹88.35 crore, highlighting the scale of the financial burden shown in the standalone accounts.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 90%