Setco Automotive Limited announced unaudited standalone earnings results for the first quarter ended June 30, 2017. For the quarter, the company reported revenue from operations of INR 731.6 million against INR 1,219.4 million a year ago. Total income was INR 764.3 million against INR 1,240.1 million a year ago. Loss before exceptional and tax was INR 119.4 million against profit before exceptional and tax of INR 54.9 million a year ago. Loss before tax was INR 119.4 million against profit before tax of INR 54.9 million a year ago. Loss for the period was INR 118.9 million or INR 0.89 basic and diluted per share against profit for the period of INR 41.7 million or INR 0.31 basic and diluted per share a year ago. Net Sales were INR 686.6 million compared to INR 1,135.7 million last year. EBITDA excluding operating income was INR 34.1 million compared to INR 152.7 million last year. Operating loss before tax was INR 152.1 million compared to INR 44.5 million.

The company provided earnings guidance for fiscal 2018, the increase in volumes by more than 15%, coupled with operational efficiencies, is expected to result in increase in EBIDTA margins by 15% (200 BPS) to around 15% of sales for the year.