Yet another net loss for B F Utilities

A wind power generation company, B F Utilities, has posted disappointing results. It was yet another quarter of net loss for the company. However, Q4FY16's net loss stands lower than both Q3FY16 and the corresponding quarter of the previous year.

Company’s revenue for Q4FY16 has remained more or less in line with the previous quarter at Rs 2.61 crore as against Rs 2.6 crore in the last quarter. EBITDA has increased to Rs 0.9 crore as against Rs 0.68 crore in the previous quarter. Company has posted a net loss of Rs 0.38 crore as against a loss of Rs 0.63 crore for Q3FY16.

Year on year revenues for the company have grown from Rs 1.38 crore in the same quarter last year. YoY net loss for the same quarter last year stands at Rs 1.57 crore amid higher tax expenditure incurred at the time.

B F Utilities has changed its annual year to March, from September, in the current year itself. So the nine monthly results were highly negative, wherein its revenues for March 2016 have posted a fall of 72 per cent from Rs 19.07 crore to Rs 5.21 crore. Company has posted a net loss of Rs 1.01 crore as against a net profit of Rs 4.29 crore for the year ended September 2015.

B F Utilities, an Indian wind power holding company, deals in two segments: Wind energy and Infrastructure. The Company's wind farm project is spread over an expanse of over 300 acres at Thosegar site in Satara district of Maharashtra. BFUL's subsidiaries include Nandi Infrastructure Corridor Enterprise Limited (NICE), Nandi Highway Developers Limited (NHDL) and Avichal Resources Pvt. Ltd.

On the day of results, the stock of B F Utilities underperformed the benchmark indices and closed at Rs 568.1, i.e. a decrease of 1.67 per cent.