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CMI’s Q2 Revenue Plummets 89.26% to Rs. 2.39 Cr.

CMI Limited [NSE: CMICABLES, BOM: 517330] has announced its financials for the quarter ended 30th September 2022.

The company reported a revenue of Rs. 2.39 crore from its operations during Q2 of FY-23. This is a 89.26% decrease from the Rs. 22.26 crore revenue which was clocked by CMI in Q2 of the previous financial year.

CMI’s net loss stood at Rs. 7.38 crore for the second quarter of FY-23, which is 90.12% lower than its net loss of Rs. 74.67 crore reported during Q2 of FY-22.

On a Quarter-over-Quarter (QoQ) basis, the company’s revenue went down by 68.47%, from Rs. 7.58 crore which was earned during Q1 of the current financial year. For the quarter ended 30th June 2022, CMI had reported a net loss of Rs. 11.92 crore.